An investigation for investors in Exelon Corporation (NASDAQ: EXC) shares over potential securities laws violations by Exelon was announced.
San Diego, CA -- (SBWIRE) -- 12/03/2019 -- An investigation was announced concerning potential securities laws violations by Exelon in connection with certain financial statements.
Investors who purchased shares of Exelon Corporation (NASDAQ: EXC), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Exelon Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Chicago, IL based Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. On October 15, 2019, Exelon Corporation announced the immediate retirement of Anne Pramaggiore, the Company's Senior Executive Vice President and CEO.
According to an article, the abrupt departure of the Company's Senior Executive Vice President and CEO occurred amid federal investigations and subpoenas concerning lobbying activities and an expanding investigation of Senator Martin Sandoval. According to the article, the Company's Senior Executive Vice President and CEO previously ran Commonwealth Edison ("ComEd"), Exelon's Chicago-based utility, which is "among the most prominent lobbyists in Springfield because it has a legal monopoly on power delivery in northern Illinois and must follow rates and rules set by the state."
Then, on October 31, 2019, Exelon Corporation filed its quarterly report on Form 10-K with the SEC in which it disclosed that "[o]n October 22, 2019, the SEC notified Exelon and ComEd that it has also opened an investigation into their lobbying activities."
Those who purchased shares of Exelon Corporation (NASDAQ: EXC) have certain options and should contact the Shareholders Foundation.
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