SETTLED
Flynn v. Exelon Corporation et al
FILING DEADLINES:
09/28/2023 ($173,000,000 Exelon Corporation)
CASE NUMBER:
19-cv-08209
CLASS PERIOD:
February 8, 2019 — October 31, 2019
TOTAL SETTLEMENT FUND:
$173,000,000.00
SETTLING DEFENDANTS
Exelon Corporation
ELIGIBLE CLASS
All persons and entities other than Defendants who purchased or otherwise acquired the publicly traded securities of Exelon Corporation between February 8, 2019 and October 31, 2019 pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
ELIGIBLE INSTRUMENTS
Exelon Corporation publicly traded securities.
Preliminary Allegations
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Exelon and/or its employees were engaged in unlawful lobbying activities; (ii) the foregoing increased the risk of a criminal investigation into Exelon; and (iii) ComEd’s revenues were in part the product of unlawful conduct and thus unsustainable.
Case Summary
Class action on behalf of all persons and entities other than Defendants who purchased or otherwise acquired the publicly traded securities of Exelon Corporation between February 8, 2019 and October 31, 2019 pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
 |
Case UpdatesFebruary 9, 2019 Annual Report: Exelon filed an Annual Report on Form 10-K with the SEC, reporting the Company’s financial and operating results for the quarter and year ended December 31, 2018 July 19, 2019 News: “FBI raids home of Madigan confidant in third search surrounding the speaker” Federal agents in mid-May raided the Western Illinois home of one of House Speaker Mike Madigan’s closest allies, former state lawmaker and lobbyist Mike McClain. The FBI is spending a lot of time checking out members of Madigan’s inner circle. According to the Chicago Tribune, authorities knocked on McClain’s door around the same time they executed search warrants at the homes of two other close Madigan allies: former Chicago Ald. Michael Zalewski and former Madigan political lieutenant Kevin Quinn. July 24, 2019 News: “Feds investigating $10,000 in checks from ComEd lobbyists to ousted Madigan operative” October 16, 2019 News: “Chief of Exelon’s Utility Business Retires Amid Federal Probe” The head of Exelon Corp.’s utility unit has abruptly retired amid a federal probe involving its lobbying in Illinois. Anne Pramaggiore, senior executive vice president and chief executive officer of Exelon Utilities, is leaving “effective immediately,” the company said in a statement Tuesday. Calvin Butler Jr., chief of Exelon’s Baltimore Gas and Electric utility, was named as her interim replacement. October 31, 2019 News: “EXELON NOTIFIED THAT SEC IS INVESTIGATING ITS LOBBYING ACTIVITY” |
 |
Next Steps#Investors who purchased the #stock from February 8, 2019 through October 31, 2019, should contact Battea Class Action Services today. |
BRIEF COMPANY PROFILE
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities.