ROSEN, NATIONAL INVESTOR COUNSEL, Continues to Investigate Securities Claims Against Portland General Electric Company - POR

Rhea-AI Summary

Rosen Law Firm is investigating potential securities claims on behalf of Portland General Electric Company (POR) shareholders following allegations of misleading information regarding business operations. On August 24, 2020, the company reported losses of $127 million due to energy trades, which led to an 11% decline in share price to $37.16 by August 26, 2020. A Special Committee has been formed to review these trading activities. The firm is preparing a class action lawsuit to recover losses for investors.

Positive

• Investigation by Rosen Law Firm could potentially lead to recovery of investor losses.

Negative

• Portland General Electric incurred significant losses of $127 million due to energy trading.
• The company's share price dropped by $4.80, or 11%, following the announcement of losses.

NEW YORK, Sept. 1, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of Portland General Electric Company (NYSE: POR) resulting from allegations that Portland General Electric may have issued materially misleading business information to the investing public.

On August 24, 2020, after the market closed, Portland General Electric announced that it had incurred losses of $127 million as of August 24, 2020 due to certain "energy trades during 2020, with increasing volume accumulating late in the second quarter and into the third quarter, resulting in significant exposure to the Company." In addition, Portland General Electric announced that it had formed a Special Committee "to review the energy trading that led to the losses and the Company's procedures and controls related to the trading."

On this news, the Company's share price fell $4.80, or 11%, over the next two trading days to close at $37.16 on August 26, 2020.

Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Portland General Electric's investors. If you purchased shares of Portland General Electric, please visit the firm's website at http://www.rosenlegal.com/cases-register-1938.html to join the class 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.

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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

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SOURCE Rosen Law Firm, P.A.

FAQ

What losses did Portland General Electric report?

Portland General Electric reported losses of $127 million due to energy trades.

How much did the stock price of POR drop after the loss announcement?

The stock price of Portland General Electric dropped by $4.80, or 11%, to close at $37.16.

What action is Rosen Law Firm taking regarding Portland General Electric?

Rosen Law Firm is investigating potential securities claims and preparing a class action lawsuit.

When did Portland General Electric announce its losses?

Portland General Electric announced its losses on August 24, 2020.