Exelon Wants Investor Suit Over Bribe Investigation Tossed
Law360 (November 19, 2020, 4:45 PM EST) -- Exelon had no duty to inform shareholders that the U.S. Securities and Exchange Commission was investigating bribery accusations against subsidiary Commonwealth Edison Co., the utility giant argued on the same day a former top executive and company lobbyists were charged.
The company asked an Illinois federal court Wednesday to dismiss the securities fraud suit brought against it by shareholders for allegedly misleading them about investigations, leading to a drop in stock prices in 2019. The shareholders say that Exelon, through its subsidiary and public statements, failed to notify them that the SEC was investigating ComEd's CEO and top lobbyists in violation...
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