LOS ANGELES, Aug. 07, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises American Electric Power Company Inc. ("AEP" or the "Company") (NYSE: AEP) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors. The investigation seeks to determine whether AEP issued misleading information to the investing public.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On July 21, 2020, Ohio House Speaker Larry Householder was arrested by Federal Bureau of Investigation agents in connection with an alleged illicit scheme which involved bribery in exchange for Householder's public support of Ohio's House Bill 6 ("HB6"), a state-funded bailout of two nuclear power plants which also added an additional monthly fee to subsidize coal plants in Indiana and Ohio and eliminated state-imposed mandates regarding renewable energy and energy efficiency.
Then on July 25, 2020, it was reported in the Columbus Dispatch that AEP, a beneficiary of HB6, made significant financial contributions to organizations and politicians that supported the passage of HB6.
On this news, the Company’s share price fell $4.79 per share, equivalent to 5%, to close at $83.26 per share on July 27, 2020, the following trading day.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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