LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Portland General Electric Company (“Portland General Electric” or “the Company”) (NYSE: POR) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. 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.
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