Federal Duke Energy shareholder coal ash lawsuit filed

coal ash 1Duke Energy shareholder E.F. Greenberg  filed in federal court in Raleigh another shareholder lawsuit arising out of the coal ash mess.

Greenberg contends that Duke Energy’s directors made significant admissions regarding their conduct in response to coal ash problems weeks before board elections took place, yet failed to disclose as much to shareholders and to the Securities and Exchange Commission.

“Despite their obligations under applicable federal law, the director defendants caused Duke to prepare, file and disseminate the proxy statement to Duke shareholders in materially incomplete and misleading form in order to secure the election of directors supported by the director defendants,” the shareholder alleges in her complaint.

Admissions of misconduct and underlying facts became public a week after elections at Duke’s May 14 criminal sentencing hearing.