Exelon (EXC) $173M Shareholder Settlement

Late claims are being considered for compensation, subject to approval.

N.D. Illinois

Court

1:19-cv-08209

Case number

02/08/2019

Class period Start

10/31/2019

Class period End

09/28/2023

Claim deadline

Exelon (EXC) agreed to settle $173M with shareholders to end securities fraud litigation claiming they unlawfully misled investors about federal bribery accusations against ComEd.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: 
Exelon and/or its employees were engaged in unlawful lobbying activities; 
the foregoing increased the risk of a criminal investigation into Exelon; 
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.

Case Status

Accepting Late Claims

Alleged Offence

Fraud,

Malpractice,

Breach of Fiduciary duty

Suspected Party

Directors,

Management,

Shareholder

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.8

Filing date

12/16/2019

Plaintiffs

Local 295 IBT Employer Group Pension Trust Fund

Attorneys

Robbins Geller Rudman & Dowd LLP (Chicago, IL)

Judge

Hon. Virginia M. Kendall

Administrator

Gilardi & Co LLC

Court hearing date

09/07/2023

Exclusion deadline

08/17/2023

Objection deadline

08/17/2023

Hearing deadline

08/17/2023

Trades matching type

FIFO

+$173,000,000

Cash Settlement Amount