Jenner & Block and Chairman Anton R. Valukas have been retained as outside counsel by the North Carolina Utilities Commission to assist in the investigation of Duke Energy Corporation and the termination of William D. Johnson as President and Chief Executive Officer immediately after the closing of the merger between Duke and Progress Energy, Inc, on July 2, 2012. The Commission initially held hearings to receive the testimony of James E. Rogers, Mr. Johnson and four members of Duke’s board of directors. The Commission has also requested the production of certain documents related to this investigation.
Mr. Valukas served as the court-appointed Examiner in the Lehman Brothers Holdings bankruptcy, reportedly the largest bankruptcy in U.S. history. He and a team of Jenner & Block attorneys representing him produced a seven volume account of the events leading to the banking giant’s collapse, coined by the press as the “Valukas Report,” which was universally applauded for its clarity and usefulness in determining what brought about the demise of Lehman Brothers, an event many commentators point to as the precipitating event triggering the economic crisis of 2008.