| COMPANY |
Exelon Corporation |
| COURT |
United States District Court for the Northern District of Illinois |
| CASE NUMBER |
19-cv-08209 |
| JUDGE |
The Honorable Virginia Mary Kendall |
| CLASS PERIOD |
February 8, 2019 – October 31, 2019 |
| SECURITY TYPE |
Common Stock |
Case Background:
On December 16, 2019, the initial complaint in this securities class action was filed against Exelon Corporation (“Exelon” or the “Company”) and certain of Exelon’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of all purchasers of Exelon common stock between February 8, 2019 and October 31, 2019, both dates inclusive (the “Class Period”).
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: (1) Exelon and/or its employees were engaged in unlawful lobbying activities; (2) the foregoing increased the risk of a criminal investigation into Exelon; (3) ComEd’s revenues were in part the product of unlawful conduct and thus unsustainable; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
Starting in March, 2022, the Parties commenced mediation efforts and participated in mediation sessions between March 2022 and April, 2023. Through the mediation process, the parties ultimately agreed to settle the case for $173 million. The Court held a Final Settlement Hearing on September 7, 2023, and approved the settlement. This action has concluded.
The deadline to file a claim is September 28, 2023. You may find additional information regarding the terms of the settlement and claim filing process at http://www.exelonsecuritieslitigation.com/ or by calling Gilardi & Co. LLC at 1-866-688-9210.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.