LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Portland General Electric Company (“Portland General Electric” or the “Company”) (NYSE: POR) investors concerning the Company’s possible violations of the federal securities laws.
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On August 24, 2020, after the market closed, Portland General Electric announced that it had incurred losses of $127 million as of August 24, 2020 due to certain “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.” In addition, Portland General Electric announced 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.”
On this news, the Company’s share price fell $3.95, or nearly 10%, during after-hours trading on August 24, 2020.
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If you purchased Portland General Electric securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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