Former Louisiana Attorney General Charles C. Foti, Jr., Esq. (Photo: AP Images / Illustration: Energy Pages)

NEW ORLEANS — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Duke Energy Corporation (NYSE: DUK).

KSF’s investigation is focusing on whether Duke’s officers and/or directors breached their fiduciary duties to Duke’s shareholders or otherwise violated state or federal laws.

Last month the Wall Street Journal reported that, based on a filing by the North American Electric Reliability Corp., a nonprofit oversight entity, and people familiar with the matter, the Company was facing a $10M fine by the Federal Energy Regulatory Commission for numerous violations of safety and cyber security rules, including “repeated failures to implement physical and cyber security protections,” and that the Company had “failed to protect sensitive information on its most critical cyber assets and allowed employees without proper clearances to access computerized records for more than four years.” According to the report, the 127 violations cited presented a serious risk to “the eastern interconnection, the web of electric utilities east of the Rocky Mountains that furnishes electricity to most Americans.”

KSF’s investigation is focusing on whether Duke’s officers and/or directors breached their fiduciary duties to Duke’s shareholders or otherwise violated state or federal laws.

Source: Kahn Swick & Foti, LLC
Author:
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