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Holzer Holzer & Fistel, LLC Announces Securities Class Action Lawsuit Filed Against Duke Energy Corp

Wednesday, 12 Sep 2012 11:12am EDT 

Holzer Holzer & Fistel, LLC announced that A class action lawsuit has been filed on behalf of investors who acquired common stock of Duke Energy Corporation either in connection with the merger of Duke Energy with Progress Energy or by purchasing the shares between June 28, 2012 and July 9, 2012. The lawsuit, which was filed in the United States District Court for the Eastern District of North Carolina, alleges that Duke Energy issued false and misleading statements during that time which violated the federal securities laws. Specifically, the lawsuit alleges Duke Energy obtained approval of the Merger from Progress Energy's Board of Directors by misrepresenting that Progress Energy's Chief Executive Officer, William D. Johnson, would serve as the chief executive of the combined company when, in fact, Duke Energy's CEO, James E. Rogers, would assume that role. According to the complaint, Duke Energy engaged in this misrepresentation to obtain regulatory approval of the Merger before announcing on July 3, 2012 that Mr. Rogers was appointed CEO while Mr. Johnson resigned by mutual agreement. 

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