NEW YORK, Aug. 8, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the actions of the Board of Directors of Duke Energy Corporation (NYSE: DUK) ("Duke Energy") on behalf of the current shareholders of Duke in connection with possible breaches of the Board's fiduciary duty to shareholders. In a recently filed complaint, it is alleged that members of Duke's Board, among other things, violated the Securities Exchange Act of 1934 by making materially false and misleading statements concerning the Company's merger with Progress Energy Incorporated ("Progress Energy').
In January 2011, Duke Energy reached an agreement to merge with Progress Energy. Part of that transaction stated that Progress Energy's CEO, William Johnson, would serve as CEO of the post-Merger Company. Thereafter, Duke Energy's Securities and Exchange filings and public disclosures consistently reinforced this agreement. Then on July 3, 2012, Duke revealed that Johnson had resigned, and Duke Energy CEO James Rogers would serve as CEO of the combined company. Shares of Duke Energy common stock plummeted upon this news.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com