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The Klein Law Firm announces that a class action complaint has been filed on behalf of all persons and entities who purchased, acquired, or otherwise held or sold, the publicly traded securities of The Southern Company (NYSE: SO) between May 10, 2013 and February 20, 2020, inclusive. The action, which was filed in the United States District Court for the Northern District of Georgia, alleges that the Company’s auditor Deloitte & Touche, LLP violated federal securities laws.
In particular, the lawsuit alleges that Deloitte & Touche, LLP made false and/or materially misleading statements in connection with its audit of The Southern Company’s financial statements and, in particular, its “clean coal” electric power plant in Kemper, Mississippi. Between May 10, 2013 and February 20, 2020 (the “Class Period”), Deloitte intentionally and recklessly violated its professional responsibilities as Southern’s professional auditor and deceived investors about Southern’s accounting for and expected completion of the Kemper Plant. Deloitte’s untrue statements and omissions of material facts concerning the Kemper Plant operated as a fraud and deceit upon plaintiff and others similarly situated in connection with their purchases and value of Southern securities during the Class Period.
Shareholders have until April 25, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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