April 21, 2021 - The court denied the defendants' motion to dismiss.

November 18, 2020 - A motion to dismiss the amended complaint was filed.

September 16, 2020 - An amended Complaint was filed.

December 16, 2019 - An investor in shares of Exelon Corporation (NASDAQ: EXC) filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by Exelon Corporation in connection with certain allegedly false and misleading statements made between February 9, 2019 and November 1, 2019.

Chicago, IL based Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. Exelon Corporation reported that its annual Total Revenue rose from over $33.53 billion in 2017 to over $35.98 billion in 2018 and that its Net Income declined from $3.77 billion in 2017 to $2.01 billion in 2018.

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 November 1, 2019, after the market opened, the Chicago Tribune reported that “[a] source with knowledge of the case in Chicago” confirmed that “Pramaggiore is one focus of the ongoing federal investigation.” According to the same article, “[t]he ComEd lobbying investigation dates to at least mid-May, when the FBI executed search warrants at the homes of former lobbyist Mike McClain of Quincy, a longtime confidant of House Speaker Michael Madigan, and of former 23rd Ward Ald. Michael Zalewski” (emphasis added). Additionally, “[t]he information sought by the FBI included records of communications among Madigan, McClain and Zalewski about attempts to obtain ComEd lobbying work for Zalewski.” Shares of Exelon Corporation (NASDAQ: EXC) declined from $49.32 per share in September 2019 to as low as $43.57 per share on December 13, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Exelon Corporation (NASDAQ: EXC) common shares between February 9, 2019 and November 1, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 9, 2019 and November 1, 2019, 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.