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Investor Alert: Kaplan Fox Investigates Exelon Corp.

NEW YORK, Oct. 31, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors who purchased shares of Exelon Corporation ("Exelon" or the "Company") (EXC).

On October 15, 2019, after the market closed, Exelon announced the immediate retirement of Anne Pramaggiore, the Company's Senior Executive Vice President and CEO.  According to the Chicago Sun-Times, the abrupt departure of Pramaggiore occurred amid federal investigations and subpoenas concerning lobbying activities and an expanding investigation of Senator Martin Sandoval.  According to the Chicago Sun-Times, Pramaggiore previously ran Commonwealth Edison ("ComEd"), Exelon's Chicago-based utility, which is "among the most prominent lobbyists in Springfield because it has a legal monopoly on power delivery in northern Illinois and must follow rates and rules set by the state."

On October 16, 2019, Exelon's shares fell $2.15 per share, about 4.6%, to close at $44.91 per share.

Then, on October 31, 2019, the Company filed its quarterly report on Form 10-K with the SEC in which it disclosed that "[o]n October 22, 2019, the SEC notified Exelon and ComEd that it has also opened an investigation into their lobbying activities."

On October 31, 2019, Exelon's shares fell by about $1.50 per share, more than 3%, in midday trading.

If you purchased Exelon shares and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952. 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about your rights or interests, please contact:

Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: ffox@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

 

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