AEP ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of October 19, 2020 in the Class Action Filed on Behalf of American Electric Power Company, Inc. Limited Shareholders
New York, New York--(Newsfile Corp. - October 19, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of American Electric Power Company, Inc. (NYSE: AEP) alleging that the Company violated federal securities laws.
Class Period: November 2, 2016 and July 24, 2020
Lead Plaintiff Deadline: October 19, 2020
Learn more about your recoverable losses in AEP:
The filed complaint alleges that American Electric Power Company, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company covertly participated in the "the largest public corruption case in Ohio history"; (2) the Company secretly funneled substantial funds to Ohio political organizations and politicians to bribe politicians to pass Ohio House Bill 6 ("HB6"), which benefited the Company and its coal-fired generation assets; (3) the Company partially funded a massive, misleading advertising campaign in support of HB6 and in opposition to a ballot initiative to repeal HB6 by passing substantial sums through a web of dark money entities and front companies in order to conceal the Company's involvement; (4) the Company aided in subverting a citizens' ballot initiative to repeal HB6; (5) as a result of the foregoing, defendants' statements regarding the Company's regulatory and legislative efforts were materially false and misleading; 6) as a result of the foregoing, the Company would face increased scrutiny; (7) the Company was subject to undisclosed risk of reputational, legal, and financial harm; (8) the bribery scheme would jeopardize the benefits the Company sought brought by HB6; (9) as opposed to the its repeated public statements regarding a move to clean energy, the Company sought a dirty energy bailout; (10) as opposed to the Company's repeated public statements regarding protection of its customers' interests, the Company sought an extra and state-mandated surcharge on its customers' bills; and (11) as a result of the foregoing, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until October 19, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the AEP lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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