The investigation focuses on whether the Company misled investors regarding the Company’s exposure to trading risks and proper oversight trading limits. On August 24, 2020, after the market closed, Portland General Electric announced that it had incurred losses of $127 million as of August 24, 2020 due to certain “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, Portland General Electric 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 Company’s share price fell significantly
Portland General Electric Company
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