Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of American Electric Power Company, Inc. (“AEP”) (NYSE: AEP) breached their fiduciary duties to AEP and its shareholders. If you are an AEP shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or firstname.lastname@example.org.
Scott+Scott is investigating whether members of the AEP Board of Directors (the “Board”) made, or caused AEP to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about AEP’s business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (1) AEP covertly participated in the “the largest public corruption case in Ohio history,” secretly funneling substantial funds to bribe politicians to pass Ohio House Bill 6 (“HB6”), which benefitted AEP and its coal-fired generation assets, and partially funding a massive, misleading advertising campaign in support of HB6 and in opposition to a ballot initiative to repeal HB6 by passing substantial sums through a web of dark money entities and front companies in order to conceal AEP’s involvement; and (2) as a result of the foregoing, statements regarding AEP’s regulatory and legislative efforts were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On July 25, 2020, the Columbus Dispatch published an article entitled “Columbus utility giant AEP funded dark money spending in HB6 campaign,” detailing actions taken by AEP in furtherance of the illegal scheme. On this news, shares of AEP fell $4.79 per share, or over 5%, to close at $83.26 per share on July 27, 2020, the next trading day.
What You Can Do
If you are an AEP shareholder, you may have legal claims against AEP’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or email@example.com.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
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