Progress Energy Merger Litigation (NYSE: PGN)

Law Office of Brodsky & Smith, LLC Announces Investigation of Progress Energy, Inc.  
 
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Progress Energy, Inc. (“Progress Energy” or the “Company”) (NYSE - PGN - News) relating to the proposed acquisition by Duke Energy (NYSE – DUK – News) in a transaction valued at approximately $26 billion. Bill Johnson, chairman, president and chief executive officer of Progress Energy will become president and chief executive officer of the new company. 
 
Under the terms of the offer, Progress Energy shareholders would receive 2.6125 shares of common stock of Duke Energy in exchange for each share of Progress Energy common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Progress Energy by not acting in Progress Energy shareholders' best interests in connection with the sale process to Duke Energy. The transaction appears to be unfair, in part, given the nominal premium being offered to Progress Energy shareholders.  
 
If you own shares of Progress Energy and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, or by calling toll free 877-LEGAL-90. 

To Join the Progress Energy Litigation

1. Fill out this form

   Mr/Mrs/Ms --Select a title-- Mr. Mrs. Ms.

   First Name: Required

   Last Name:Required

   
   

   Address: Required

   City: Required

   State: Required Select a State AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY

   
   

   Email Address:Required

   Phone Number:Required

   
   

   Number of Shares Owned:Required

   Date purchased:

   
   

   By clicking on the submit button, I acknowledge that I have downloaded and read both the Merger Class Action Lawsuit Retainer Agreement and Class Representative Rights and Responsibilities documents, and agree to retain Brodsky & Smith, LLC to file an action against Progress Energy in connection with this case. Brodsky & Smith, LLC will prosecute the action on a contingent fee basis and will advance all costs and expenses.
   

View Complaint

The complaint is unavailable at this time

Join Other Cases

Frequently Asked Questions

 

Home : All cases : Report a Fraud

FAQ's : Attorneys : Practice Areas : Contact Us : Links : Disclaimer