-
If you purchased shares of Duke Energy Corporation (NYSE: DUK), you might have certain options and should contact the Shareholders Foundation, Inc.
-
To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
November 2, 2015 - The court approved the settlement and entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.
August 12, 2015 - The court held a final settlement hearing.
March 25, 2015 - The court preliminarily approved the settlement.
March 10, 2015 - Parties filed a stipulation of settlement.
April 2, 2013 - Defendants filed a motion to dismiss.
January 29, 2013 - The lead plaintiffs filed a corrected amended consolidated complaint.
January 28, 2013 - The lead plaintiffs filed an amended consolidated complaint.
December 14, 2012 - Lead plaintiffs and lead counsel were appointed.
October 17, 2012 - Cases were consolidated.
September 24, 2012 - Lead plaintiff motions were filed.
September 10, 2012 - Cases were consolidated.
July 30, 2012 - Another investor filed an additional complaint.
July 24, 2012 - An investor in shares of Duke Energy Corporation (NYSE: DUK) filed a lawsuit in the U.S. District Court for the Western District of North Carolina against Duke Energy Corporation over alleged violations of federal securities laws in connection with certain statements regarding the merger between Duke Energy Corporation and Progress Energy.
According to the complaint the plaintiff alleges on behalf of all purchasers of common stock of Duke Energy Corporation (NYSE: DUK) on July 7, 2011 or between June 28, 2012 and July 9, 2012, that Duke Energy Corporation violated the Securities Exchange Act of 1934 and the Securities Act of 1933.
In January 2011 the merger between Duke Energy Corporation and Progress Energy was announced and under the merger agreement, Progress Energy’s shareholders received common stock of Duke Energy Corporation in exchange for each share of Progress Energy common stock. It was planned that the former chairman and CEO of Progress Energy Inc would take over as president and CEO of the combined companies.
However on July 3, 2012, Duke Energy Corporation announced that the former chairman and CEO of Progress Energy Inc resigned and the Duke Energy Corporation Chairman and CEO, who was supposed to be chairman after the merger, was asked by the board to continue as CEO. A former Progress Energy director said that the Progress Energy board of directors had been misled prior to the merger.
July 5, 2012, the North Carolina Attorney General and the North Carolina Utilities Commission launched investigations into whether Duke Energy Corporation misled regulators prior to approval of the merger.