A San Francisco law firm said Tuesday it has filed a class-action lawsuit on behalf of investors over the chief executive switch following the Duke Energy-Progress Energy merger.
The firm, Kessler Topaz Meltzer & Check, said it filed the suit in the U.S. District Court for Eastern North Carolina on behalf of people who bought Duke stock between June 28 and July 9..
The suit claims that Duke and its officers broke securities law by misrepresenting who would lead the combined companies. Progress CEO Bill Johnson was forced out as chief executive of the new Duke hours after the merger closed July 2. Bruce Henderson