Exelon Corporation (EXC)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Exelon Corporation (EXC)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Exelon Corporation(“Exelon” or the “Company”) (NASDAQ: EXC). The investigation concerns whether Exelon and certain of its officers and/or directors have violated federal securities laws.
On July 15, 2019, Exelon announced that both Exelon and Commonwealth Edison (“ComEd”), owned by Exelon, had received a grand jury subpoena from the U.S. Attorney’s Office in Chicago concerning Exelon’s lobbying activities in Illinois. Then, on October 9, 2019, Exelon disclosed receipt of a second grand jury subpoena regarding its communications with Illinois State Senator Martin Sandoval. On October 15, 2019, Exelon announced the abrupt departure of Anne Pramaggiore, Chief Executive Officer of Exelon Utilities. Analysts immediately identified the criminal subpoenas and Pramaggiore’s abrupt resignation as “being directly related to each other.” On this news, Exelon’s stock price fell $2.15 per share, or 4.57%, to close at $44.91 per share on October 16, 2019. Finally, on October 31, 2019, Exelon disclosed that the U.S. Securities and Exchange Commission had also opened an investigation into the Company’s lobbying activities. On this news, Exelon’s stock price fell $1.17, or 2.51%, to close at $45.49 per share on October 31, 2019.
If you are aware of any facts relating to this investigation, or purchased Exelon shares, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.