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EXC.US
id: 744

Exelon (EXC) $173M Shareholder Settlement

N.D. Illinois
Court
1:19-cv-08209
Case number
08 Feb 2019
Class period Start
31 Oct 2019
Class period End
28 Sept 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:
  1. Exelon and/or its employees were engaged in unlawful lobbying activities;
  2. the foregoing increased the risk of a criminal investigation into Exelon;
  3. ComEd’s revenues were in part the product of unlawful conduct and thus unsustainable; and
  4. 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
16 December 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
07 September 2023
Exclusion deadline
17 August 2023
Objection deadline
17 August 2023
Hearing deadline
17 August 2023
Trades matching type
FIFO
+$173,000,000
Cash Settlement Amount

Exelon Corporation

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and r...

    Ticker
    EXC.US
    ISIN
    US30161N1019
    CIK
    1109357
    Sector
    Utilities
    Industry
    Utilities - Regulated Electric
    Country
    USA
    Address
    10 South Dearborn Street, Chicago, IL, United States, 60680-5379