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SAN FRANCISCO, Jan. 26, 2017 -- Hagens Berman Sobol Shapiro LLP alerts investors in The Southern Company (NYSE:SO) to the securities class action lawsuit filed in the U.S. District Court for the Northern District of Georgia and to the March 24, 2017 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of SO between April 25, 2012 and October 29, 2013 and suffered over $100,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/SO
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
Throughout the class period, The Southern Company repeatedly assured investors that its Kemper “clean coal” plant would be complete by May 2014. Then, in October 2013, Defendants disclosed that the Kemper project was delayed.
In July 2016, The New York Times reported on the U.S. Securities and Exchange Commission’s investigation into SO and disclosed information provided by a Company whistleblower and others. The NYT reported (in part): “documents and recordings…and interviews with more than 30 current or former regulators, contractors, consultants or engineers who worked on the project, show that [Kemper’s] owners drastically understated the project’s cost and timetable, and repeatedly tried to conceal problems as they emerged.” Hagens Berman’s investigation of The Southern Company is ongoing.
“We’re focused on failures of Southern’s checks and balances that were supposed to keep Kemper on track. We’re also investigating Defendants’ alleged concealment of facts and how Kemper qualified for hundreds of millions of dollars in federal subsidies,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding SO should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
