PR Newswire | Oct 6, 2020 02:46PM EDT

Potential Securities Fraud

10/06 13:46 CDT

Investor Alert: Kaplan Fox Investigates Portland General Electric Company For Potential Securities Fraud NEW YORK, Oct. 6, 2020

NEW YORK, Oct. 6, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Portland General Electric Company ("PGE" or the "Company") (NYSE: POR). A complaint has been filed on behalf of investors who purchased or otherwise acquired PGE securities between April 24, 2020 and August 24, 2020, inclusive (the "Class Period").

On August 24, 2020, after the market closed, PGE announced that as a result of energy trading activity in certain wholesale electricity markets it had incurred losses of $127 million as of August 24, 2020. PGE further stated that "personnel entered into a number of energy trades during 2020, with increasing volume accumulating late in the second quarter and into the third quarter, resulting in significant exposure to the Company." In addition, the Company announced that it had formed a Special Committee "to review the energy trading that led to the losses and the Company's procedures and controls related to the trading."

On this news, the price of PGE's shares fell $3.51 per share, or 8.37%, to close at $38.45 per share on August 25, 2020, thereby injuring investors.

If you are a member of the proposed Class, you may move the court no later thanNovember 2, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. HallKAPLAN FOX & KILSHEIMER LLP850 Third Avenue, 14th FloorNew York, New York 10022(646) 315-9003E-mail: dhall@@kaplanfox.com

Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704Fax: (415) 772-4707E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP