MINNEAPOLIS, Nov. 13, 2008 (GLOBE NEWSWIRE) -- Charles H. Johnson & Associates announces that a class action has been commenced against Constellation Energy Group, Inc. ("Constellation") (NYSE:CEG) for violations of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The Complaint was filed in the United States District Court for the District of Maryland on behalf of a class of all persons who were participants in or beneficiaries of the Employee Savings Plan and the Represented Employee Savings Plan for Nine Mile Point (the "Plans") between January 30, 2008 and the present (the "Class Period") and whose Plan accounts included investments in Constellation common stock.
The Complaint alleges that certain Defendants, each having certain responsibilities regarding the management and investment the of Plans' assets, breached their fiduciary duties to the Plans and proposed Class by failing to prudently and loyally manage the Plans' investment in Company securities by: 1) continuing to offer Constellation common stock as an investment option when it was imprudent to do so; 2) failing to provide complete and accurate information to the Plans participants regarding the Company's financial condition and the prudence of investigating in Company stock; and 3) maintaining the Plans' pre-existing investments in Constellation stock when Company stock was no longer a prudent investment for the Plans.
If you are a participant in the Constellation Energy Group, Inc. Employee Savings Plan or the Represented Employee Savings Plan for Nine Mile Point and held Constellation Energy stock in either the Plans, or have any questions concerning this notice or your rights with respect to this matter, please contact:
Neal Eisenbraun, Esq. (cjohnsonlaw@gmail.com) Charles H. Johnson & Associates 2599 Mississippi Street New Brighton, MN 55112 (651) 633-5685