NASHVILLE, Tenn.--(BUSINESS WIRE)--The law firm of Gordon Ball LLC (www.gordonball.com) announces that it has filed a class action lawsuit on behalf of persons who purchased The Southern Company (SOUTHERN) (NYSE: SO) common stock.
The case, Formby, et al, v. Deloitte, 1:22-cv-00670-WMR, is pending in the United States District Court of Georgia, Northern District. The class action is brought against Deloitte, LLP and Deloitte & Touche, LLP who have been SOUTHERN and Mississippi Power Company outside auditors since 2002.
The complaint alleges that Deloitte violated Section 10(b) of the Securities Exchange Act including SEC rule 10b-5 and Section 17(a)(1)-(3) of the Securities Act regarding SOUTHERN financial condition and/or concealing material adverse omissions from investors about the true status of its investment in the Kemper County Energy Facility Construction Project in Kemper County, Mississippi.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. If you purchased or otherwise acquired common shares of SOUTHERN, you may, no later than April 25, 2022, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your ability to share in any recovery is not affected by the decision whether to serve as a lead plaintiff. You may retain Gordon Ball LLC, or other attorneys, to serve as your counsel.
If you wish to discuss your rights, please contact Gordon Ball LLC at (865) 525-7028. A copy of this complaint is available on our website www.gordonball.com.