NASDAQ: EXC Investor Notice: Lawsuit against Exelon Corporation announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / January 14, 2020 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Exelon Corporation (NASDAQ:EXC) shares.

Investors, who purchased shares of Exelon Corporation (NASDAQ:EXC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

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."

On December 16, 2019 a lawsuit was filed against Exelon Corporation over alleged Securities Laws Violations. The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Exelon and/or its employees were engaged in unlawful lobbying activities, that the foregoing increased the risk of a criminal investigation into Exelon, that ComEd's revenues were in part the product of unlawful conduct and thus unsustainable, and that, as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased Exelon Corporation (NASDAQ:EXC) shares should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.

ReleaseID: 572987