NISOURCE INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of NiSource Inc. - NI
NEW ORLEANS, March 15, 2019 /PRNewswire/ -- 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 NiSource Inc. (NYSE: NI).
On September 13, 2018, numerous gas explosions destroyed dozens of homes and businesses in Massachusetts, causing one death, dozens of injuries, and the forced relocation of approximately 8,600 households, which investigators determined was caused by over-pressurization of a gas main belonging to Columbia Gas of Massachusetts, a wholly-owned subsidiary of NiSource. On November 1, 2018, the Company disclosed that it was "subject to a criminal investigation" by the Massachusetts U.S. Attorney's Office and had been served with grand jury subpoenas.
Recently, the Company disclosed that it is under investigation by the Securities and Exchange Commission relating to its financial disclosures prior to the explosions.
The Company's actions, directed by its executives, have exposed it to significant litigation including a class action lawsuit brought by the victims of the explosions for failing to properly and safely maintain its gas distribution system, as well as the cost of defending the Company against government investigations and the penalties, fines and other liabilities and expenses associated with those investigations.
KSF's investigation is focusing on whether NiSource's officers and/or directors breached their fiduciary duties to NiSource's shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of NiSource shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ni/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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