A shareholder lawsuit is using sworn testimony by Duke Energy Corp. executives and directors to support claims that investors were misled by a surprise shuffle of top executives.
Duke Energy spokesman Dave Scanzoni said the country’s largest electricity company views the federal lawsuit as lacking merit.
The case aims to include anyone who bought Duke Energy stock from the day before North Carolina regulators approved the merger last month to the day before replacement CEO Jim Rogers testified the leadership shakeup had been discussed since May.
Duke Energy director Ann Grey testified to the North Carolina Utilities Commission last week that some board members raised doubts last year about keeping the CEO they promised, Progress Energy’s Bill Johnson.
Oklahoma Schools Destroyed by Tornado Lacked ‘Safe Rooms’
Connecticut Court Rules That Lawyers Can’t Be Sued for Fraud
Wage and Hour Claims Among Top Threats to U.S. Employers
Cyber Attacks On Banks More Serious Than Public Realizes
E&O Insights: Restaurant and Tavern Risks
CEA’s First CIO Reflects C-Suite Trend
Golf and Country Clubs Weather the Storm
Midwest AGs Go After Storm-Chasing Roofing Companies
Sign up to receive insurance news alerts!
