An investigation on behalf of investors of Portland General Electric Company (NYSE: POR) shares over potential securities laws violations by Portland General Electric Company and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Portland General Electric Company (NYSE: POR) concerning whether a series of statements by Portland General Electric Company regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Portland, OR based Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon.
Portland General Electric Company reported that its annual Total Revenue rose from $1.94 billion in 2018 to over $2.05 billion in 2019, and that its Net Income increased from $212 million in 2018 to $214 million in 2019.
Portland General Electric admitted on August 24, 2020, that it had suffered losses of $127 million due to 'energy trades during 2020, with increasing volume accumulating late in the second quarter and into the third quarter, resulting in significant exposure to the Company.' The Company also disclosed that it had formed a Special Committee to 'review the energy trading that led to the losses and the Company's procedures and controls related to the trading.' Based on this news, shares of Portland General Electric fell by more than 8% on August 25, 2020.

Shares of Portland General Electric Company (NYSE: POR) declined from $445.83 per share on July 31, 2020, to as low as $36.00 per share on August 25, 2020.