News14.com

  74º

You are not signed in  |  Sign in here  |  Help

You're viewing a lite version of news14.com

Time Warner Cable customers: Sign in with your TWC ID for video access.

Get my TWC ID. | Get TWC service. | Read the FAQ.

07/25/2012 12:11 PM

Federal lawsuits filed over Duke-Progress merger

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

RALEIGH – Two former Progress Energy shareholders have filed federal lawsuits against Duke energy alleging securities fraud related to the Progress-Duke merger.

The lawsuits said Duke Energy CEO Jim Rogers and company directors misled Progress shareholders about who would lead the combined company.

Shareholders allege Duke intentionally lied about plans to oust Progress CEO Bill Johnson after the merger deal closed.

Other stockholders have filed similar suits and more are likely to come as the probe into the leadership shakeup grows.