Press release
Investigation announced for Investors in Portland General Electric Company (NYSE: POR) shares
An investigation for investors in Portland General Electric Company (NYSE: POR) shares.
Investors who purchased shares of Portland General Electric Company (NYSE: POR), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Portland General Electric Company regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Portland, OR based Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon.
Portland General Electric Company reported that its annual Total Revenue rose from $1.94 billion in 2018 to over $2.05 billion in 2019, and that its Net Income increased from $212 million in 2018 to $214 million in 2019.
Portland General Electric admitted on August 24, 2020, that it had suffered losses of $127 million due to "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." The Company also disclosed 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." Based on this news, shares of Portland General Electric fell by more than 8% on August 25, 2020.
Shares of Portland General Electric Company (NYSE: POR) declined from $445.83 per share on July 31, 2020, to as low as $36.00 per share on August 25, 2020.
Those who purchased shares of Portland General Electric Company (NYSE: POR) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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