On or around 09/07/2023 (Date of order of final judgment)
Filing Date: December 16, 2019
According to the Complaint, Exelon Corporation is a utility services holding company that engages in energy generation and delivery businesses in the U.S. and Canada.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the Complaint alleges 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; (iii) ComEd’s revenues were in part the product of unlawful conduct and thus unsustainable; and (iv) that, as a result, the Company’s public statements were materially false and misleading at all relevant times.
On July 21, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on September 16. Defendants filed Motions to Dismiss the amended Complaint on November 18. On April 21, 2021, the Court issued an Order denying Defendants' Motions to Dismiss.
On May 26, 2023, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on June 9. On September 7, the Court granted final approval of the Settlement and entered Final Judgment. On September 8, the Court approved an award of Attorneys’ Fees and Expenses.
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