NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of The Southern Company (“The Southern Company”) (NYSE: SO) between April 25, 2012 and October 29, 2013. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Northern District of Georgia. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that during the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding the progress of the Company’s Kemper Plant, assuring investors that the project would be completed by the critical May 2014 deadline, even when cost overruns and other delays began to materialize.
On October 30, 2013, the Company announced its third quarter 2013 financial results, disclosing an after-tax charge of $93 million “related to increased cost estimates for the construction” of the Kemper Plant. In addition, defendants disclosed in an earnings conference call the same day that the in-service date for the Kemper Plant would be delayed until year-end 2014. As a result of these revelations, the price of The Southern Company common stock declined significantly.
If you suffered a loss in The Southern Company you have until March 24, 2017 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.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.