SOURCE: Holzer Holzer & Fistel, LLC
ATLANTA, GA--(Marketwire - Sep 12, 2012) - A class action lawsuit has been filed on behalf of investors who acquired common stock of Duke Energy Corporation ("Duke Energy" or the "Company") (NYSE: DUK) either in connection with the merger of Duke Energy with Progress Energy (the "Merger") 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.
If you purchased Duke Energy common stock between June 28, 2012 and July 9, 2012 or acquired shares of DUK pursuant to the Merger and suffered losses on your investment you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than September 24, 2012. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Investors who are interested in serving as lead plaintiff or who have questions concerning their legal rights may contact Michael I. Fistel, Jr., Esq. (firstname.lastname@example.org) or Marshall P. Dees, Esq. (email@example.com) by email or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.