PGE is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) PGE lacked effective internal controls over its energy trading practices; (2) PGE personnel had entered energy trades during 2020, with increasing volume accumulating late in the second quarter and into the third quarter, that created significant negative financial exposure for PGE; (3)as a result, the Company was reasonably likely to incur significant losses; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you incurred a loss on POR stocks purchased between April 24, 2020 and August 24, 2020, this lawsuit is on your behalf. The lawsuit was filed in the the United States District Court for the District of Oregon, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until November 2, 2020 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
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