Progress Energy, Inc. PGN Securities Stock Fraud

Company:	Progress Energy, Inc.
Ticker Symbol:	PGN
Class Period:	Jan-8-11 to Jul-19-11
Date Filed:	Jul-18-11
Lead Plaintiff Deadline:	Sep-16-11
Court:	Eastern District of North Carolina
Allegations:

New York, NY: A securities class action lawsuit has been filed in the United States District Court, Eastern District of North Carolina (case no. 4:11-cv-00120-D) on behalf of purchasers of Progress Energy, Inc. ("Progress Energy" or "the Company") who purchased shares between January 8, 2011 and July 19, 2011. No class has yet been certified.

The Complaint alleges, among other things, that Progress Energy and its Board of Directors unfairly deprived shareholders of the true value of the Company by entering into a definitive merger agreement with Duke Energy Corporation, wherein Progress Energy shareholders will receive 2.6125 shares of Duke Energy common stock for each share of Progress Energy stock they own, violated their fiduciary duties to shareholders, and violated Section 14(a) of the Securities Exchange Act of 1934 by omitting material disclosures and providing misleading disclosures in its Proxy.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Progress Energy, Inc. PGN Securities Fraud Legal Help

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