Duke Investors Seek Stay Of Copycat Suit Over CEO's Ouster

Law360, Wilmington (August 23, 2012, 8:55 PM EDT) -- Shareholders behind a derivative lawsuit over last month's ouster of Duke Energy Corp.'s CEO asked a Delaware judge on Wednesday to halt a parallel action, calling it a copycat complaint filed by a conflicted law firm.

On July 17, shareholders Lesley Rupp and Richard Bernstein sued in Delaware Chancery Court to hold Duke’s board liable for damaging the company’s credibility and business prospects when they kicked CEO Bill Johnson out mere hours after he ascended to the position in Progress Energy Inc.’s $26 billion merger with...
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