LOS ANGELES–(BUSINESS WIRE) – Glancy Prongay & Murray LLP ("GPM"), a premier national shareholder rights law firm, announced today that it has initiated an investigation on behalf of Portland General Electric Company ("Portland General Electric" or the "Company") ( NYSE: POR) investors regarding possible violations by the company of federal securities laws.
If you have suffered a loss on your Portland General Electric investment or would like to inquire about whether you may be able to make claims to recover your loss under federal securities laws, you can contact Charles at toll-free number 310-201-9150 H. Linehan of GPM should contact us at 888-773-9224 or by email at Aktionäre@glancylaw.com to learn more about your rights.
On August 24, 2020, after the market closed, Portland General Electric announced that on August 24, 2020 it had suffered losses of US $ 127 million on certain "2020 energy deals, with increasing volume at the end of the second quarter and well into the year. The third quarter resulted in significant exposure to the company. Portland General Electric also announced that it had set up a special committee to "review the energy trading that led to the losses and the company's procedures and controls related to the trading."
In this news, the company's stock price fell $ 3.95, or nearly 10%, during trading after the close on August 24, 2020.
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Whistleblower: Individuals with nonpublic information about Portland General Electric should consider their options to assist with the investigation or use the SEC's whistleblower program. Under the program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. For more information, please contact Charles H. Linehan at 310-201-9150 or 888-773-9224, or email Shareholders@glancylaw.com.
Glancy Prongay & Murray LLP is a leading law firm serving investors and consumers in securities disputes and other complex class action lawsuits. ISS Securities Class Action Services consistently rated GPM in its annual SCAS Top 50 report. In 2018, GPM was ranked one of the top five law firms for number of class action settlements for securities and one of the top six law firms for overall size of settlements in US dollars. With four offices across the country, GPM's nearly 40 attorneys have made breakthrough decisions, reclaiming billions of dollars for investors and consumers in securities, antitrust, consumer and employment lawsuits. GPM's attorneys have handled cases covering a wide range of corporate misconduct, including cases involving financial adjustments, internal control weaknesses, earnings management, fraudulent profit policies and forward-looking statements, auditor misconduct, insider trading, violations of FDA regulations Affected are actions that lead to FDA and DOJ, investigations and many other forms of corporate misconduct. GPM's attorneys have worked on securities cases affecting nearly every industry and sector in the financial markets, including energy, consumer discretionary, consumer staples, real estate and REITs, finance, insurance, information technology, healthcare, biotechnology, cryptocurrency and medical devices, and many more . GPM's past successes have been extensively covered by leading news and industry publications such as The Wall Street Journal, Financial Times, Bloomberg Businessweek, Reuters, Associated Press, Barrons, Investor's Business Daily, Forbes and Money .
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