After months of revelations about energy giant Exelon and its subsidiary ComEd’s lobbying activities in Springfield, the company was hit with a class action lawsuit in federal court this week, alleging the company made false statements and that it engaged in “unlawful lobbying activities.”
Exelon shareholder Joshua Flynn filed the federal securities lawsuit in Chicago on Monday. The complaint lays out a timeline of unflattering headlines about Exelon and its associates this summer and fall. The energy giant admitted to the Securities and Exchange Commission that it’s been hit with two grand jury subpoenas this year. Flynn’s lawsuit links the revelation of the probes to falls in the firm’s stock prices.