ROSEN, TRUSTED INVESTOR COUNSEL, Continues its Investigation of Securities Claims Against American Electric Power Company, Inc. - AEP

Rhea-AI Summary

Rosen Law Firm is investigating potential securities claims on behalf of shareholders of American Electric Power Company (NYSE: AEP) due to allegations of misleading business information. This follows the arrest of Ohio House Speaker Larry Householder related to a bribery scheme involving House Bill 6, which financially benefited AEP. Following a report of AEP's contributions to supporters of HB6, its share price dropped by $4.79, or 5%, closing at $83.26 on July 27, 2020. Rosen Law Firm is preparing a securities lawsuit for affected shareholders.

Positive

• None.

Negative

• Significant share price decline of $4.79, or 5%, following allegations of misleading information.
• Involvement in a bribery scheme linked to House Bill 6 may raise concerns among investors.

NEW YORK, Aug. 19, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of American Electric Power Company, Inc. (NYSE: AEP) resulting from allegations that AEP may have issued materially misleading business information to the investing public.

On July 21, 2020, Federal Bureau of Investigation agents arrested Ohio House Speaker Larry Householder in connection with an alleged illegal scheme involving bribery in return for Householder's championing of Ohio's House Bill 6 ("HB6"), a bailout of two nuclear power plants which also added an additional monthly fee to subsidize coal plants and eliminated state-imposed mandates on energy efficiency and renewable energy.

Then on July 25, 2020, the Columbus Dispatch reported that AEP, a beneficiary of HB6, made significant financial contributions to politicians and organizations that supported HB6's passage. On this news, the Company's share price fell $4.79 per share, or 5%, to close at $83.26 per share on July 27, 2020, the next trading day.

Rosen Law Firm is preparing a securities lawsuit on behalf of AEP shareholders. If you purchased securities of AEP please visit the firm's website at http://www.rosenlegal.com/cases-register-1913.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40^th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      lrosen@rosenlegal.com
      pkim@rosenlegal.com
      cases@rosenlegal.com
      www.rosenlegal.com

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/rosen-trusted-investor-counsel-continues-its-investigation-of-securities-claims-against-american-electric-power-company-inc--aep-301115016.html

SOURCE Rosen Law Firm, P.A.

FAQ

What is the investigation by Rosen Law Firm regarding AEP?

Rosen Law Firm is investigating potential securities claims against American Electric Power Company (AEP) for allegedly issuing misleading business information.

What caused the share price drop for AEP in July 2020?

AEP's shares fell by $4.79, or 5%, following reports of its financial contributions to supporters of House Bill 6, amid allegations of bribery involving Ohio officials.

What is House Bill 6 and how does it relate to AEP?

House Bill 6 is legislation in Ohio that provided bailouts for nuclear power plants and benefited AEP; however, it is part of an investigation linked to bribery allegations.

What impact do the allegations have on AEP shareholders?

The allegations and the subsequent drop in share price raise concerns about potential financial losses and misleading information affecting AEP's stakeholders.