NC Agency Orders Ousted Progress CEO To Testify On Merger

Law360, New York (July 13, 2012, 5:54 PM ET) -- The North Carolina Utilities Commission issued an order Thursday summoning recently ousted Progress Energy Inc. CEO Bill Johnson and four Duke Energy Corp. board members to testify about Johnson's dismissal from Duke hours after the power companies completed a $26 billion merger.

The NCUC also demanded that Duke Energy produced a horde of documents relating to its board members' discussions about the merger. Specifically, the state agency ordered the firm to turn over all employment contracts with current Duke Energy CEO Jim Rogers, all board meeting...
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