Levi & Korsinsky Notifies Investors of Class Action Lawsuit Against Progress Energy, Inc. and Lead Plaintiff Deadline

NEW YORK, NY--(Marketwire - Jul 25, 2011) - Levi & Korsinsky, LLP announces that on July 18, 2011 it commenced a class action lawsuit in the United States District Court, Eastern District of North Carolina (Case No. 4:11-cv-00120-D) on behalf of purchasers of Progress Energy, Inc. ("Progress Energy" or "the Company") (NYSE: PGN) who purchased shares between January 8, 2011 and July 19, 2011.

To get more information, or to obtain a copy of the complaint, please click here: http://www.zlk.com/progress-energy-pgn.html.

The Complaint alleges, among other things, that Progress Energy and its Board of Directors unfairly deprived shareholders of the true value of the Company by entering into a definitive merger agreement with Duke Energy Corporation (NYSE: DUK), wherein Progress Energy shareholders will receive 2.6125 shares of Duke Energy common stock for each share of Progress Energy stock they own, violated their fiduciary duties to shareholders, and violated Section 14(a) of the Securities Exchange Act of 1934 by omitting material disclosures and providing misleading disclosures in its Proxy.

If you are a member of the class and own Progress Energy stock purchased during the above period, you have 60 days from the date of this notice to request that the Court appoint you as lead plaintiff. To obtain additional information or a copy of the complaint, contact Eduard Korsinsky, Esq. either via email at ek@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/progress-energy-pgn.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below.