Glancy Binkow & Goldberg LLP said that all persons who purchased the common stock of Duke Energy Corporation (DUK: Quote) in connection with the company's merger and all persons who bought or otherwise acquired Duke common stock between June 28, 2012 and July 9, 2012, have until September 24, 2012 to file a motion with the court to be appointed as lead plaintiff.
The securities fraud class action lawsuit was filed in the United States District Court for the Eastern District of North Carolina.
The complaint alleges that Duke failed to disclose and misrepresented that: (i) Duke's current chief executive officer, James Rogers and not William Johnson, who before the merger was the head of Progress - would serve as the CEO of the combined company after merger: and (ii) approval for the merger was received from the Progress board of directors by failing to disclose that Rogers would act as the CEO of the combined company.
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by RTT Staff Writer
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