Duke Energy Corp. Securities Litigation Settlement Website
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Welcome to the Duke Energy Corp. Securities Litigation Settlement Website

This website has been established to provide general information related to the proposed settlement of the Duke Energy Corporation (“Duke”) Securities Litigation. The proposed Settlement is subject to Court approval.  The capitalized terms used on this website, and not defined herein, shall have the same meanings ascribed to them in the Stipulation of Settlement dated March 5, 2015.

This Action is a securities class action that is pending before the Honorable Max O. Cogburn Jr. in the United States District Court for the Western District of North Carolina. Defendant Duke is the largest electric power holding company in the United States, supplying and delivering energy to approximately 7.3 million U.S. residents.

This Action alleges that the price of Duke common stock was artificially inflated during the Settlement Class Period as a result of alleged false and misleading statements and omissions by the Settling Defendants concerning, inter alia, Duke’s business, operations, and management, including Progress Energy Inc.'s ("Progress") then-CEO’s role as CEO of Duke following the Merger. The Action further alleges that when the Settling Defendants disclosed the truth, Settlement Class Members suffered damages as a result of the decline in the price of Duke’s common stock. The Settling Defendants deny all of Lead Plaintiffs’ allegations and further deny that they did anything wrong.

The Court has certified the Settlement Class, solely for purposes of effectuating the Settlement.  The Settlement Class consists of all Persons who purchased or acquired shares of Duke common stock between June 11, 2012 and July 9, 2012, inclusive, including former Progress shareholders who acquired shares of Duke common stock directly in the Merger of Duke and Progress. Excluded from the Settlement Class are the Settling Defendants, including all predecessors, successors, past, present or future parents, subsidiaries or affiliates of Duke and the families and affiliates of the Individual Defendants.  Also excluded from the Settlement Class are all Persons who exclude themselves from the Settlement Class by timely and validly requesting exclusion in accordance with the requirements set forth in the Notice of Pendency and Proposed Settlement of Class Action, Motion for Attorneys’ Fees and Expenses and Final Approval Hearing.

A Settlement Fund consisting of $146,250,000 in cash, plus any accrued interest, will be established for the benefit of the Settlement Class.   In order to be eligible to share in the distribution of the Net Settlement Fund, you must be a Settlement Class Member and you must submit a Proof of Claim and Release Form.  A Settlement Class Member’s actual recovery will be a portion of the Net Settlement Fund as determined by comparing that Settlement Class Member’s claim loss, as calculated per the Plan of Allocation contained in the Notice and subject to Court approval, to the total claim loss of all Settlement Class Members who submit timely and valid Proofs of Claim.

Lead Plaintiffs and the Settlement Class are represented by the law firms of Robbins Geller Rudman & Dowd LLP and Kessler Topaz Meltzer & Check, LLP.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Pendency and Proposed Settlement of Class Action, Motion for Attorneys’ Fees and Expenses and Final Approval Hearing and the Stipulation of Settlement, both of which can be found and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A PROOF OF CLAIM This is the only way to be eligible to receive a payment from the Settlement. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court whether or not you submit a Proof of Claim.
EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION If you exclude yourself from the Settlement Class, you will not be eligible to get any payment from the Settlement Fund. This is the only option that allows you to participate in any other proceeding against any of the Settling Defendants or the other Released Parties concerning the Settled Claims. 
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION If you do not like the Settlement, the Plan of Allocation, and/or the request(s) for attorneys’ fees and expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation, or the fee and expense requests unless you are a Settlement Class Member and do not exclude yourself. 
GO TO THE HEARING AND FILE A NOTICE OF INTENTION TO APPEAR Filing a written objection and notice of intention to appear allows you to speak in Court about the fairness of the Settlement, the Plan of Allocation, and/or the request(s) for attorneys’ fees and expenses. If you submit a written objection, you may (but do not have to) attend the hearing and speak to the Court about your objection. If you do not attend the hearing, the Court will still consider your objection. 
DO NOTHING If you are a member of the Settlement Class and you do not submit a Proof of Claim, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.

IMPORTANT DATES AND DEADLINES

Submit Proof of Claim: July 13, 2015
Request Exclusion from Settlement Class: June 8, 2015
File Objection to the Settlement: June 8, 2015
Court Hearing on Fairness of Settlement: August 12, 2015 at 9:30 a.m.