The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Oregon on behalf of investors who purchased Portland General Electric Company (NYSE: POR) securities between April 24, 2020 and August 24, 2020.
According to the PGE lawsuit, throughout the Class Period defendants made 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 suffered a loss in PGE you have until November 2, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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