A Shareholder Has Filed A Class Action Lawsuit Against Constellation Energy Group, Inc. (NYSE: CEG)

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 22, 2008 --

On Monday, September 22nd, 2008, a shareholder has filed a proposed class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Constellation Energy Group, Inc. (NYSE:CEG) publicly traded securities during the period between January 30th, 2008 and September 16th, 2008 , including the Series A Junior Subordinated Debentures, pursuant and/or traceable to the Constellation Energy Group, Inc’s Registration Statement and Prospectus issued in connection with the Constellation Energy Group, Inc’s June 27, 2008 Preferred Securities offering against Constellation Energy Group, and certain of its offivers and directors over allegedly materially false and misleading statements.

If you purchased or otherwise acquired publicly traded securities during the period between January 3th0, 2008 and September 16th, 2008 , including the Series A Junior Subordinated Debentures, pursuant and/or traceable to the Constellation Energy Group, Inc’s Registration Statement and Prospectus issued in connection with the Constellation Energy Group, Inc’s June 27th, 2008 Preferred Securities offering, you have certain rights and there are strict and short deadlines running (November 21st, 2008). You should immediately contact the Shareholders Foundation, Inc.!

Email: Mail@ShareholdersFoundation.com

or Call us TODAY!

Phone: +1-(858)-779-1554

According to the complaint the plaintiff alleges that Constellation Energy Group, Inc. and certain of its officers and directors and its underwriters violated the Securities Exchange Act of 1934 and the Securities Act of 1933. Specifically the complaint alleges that due to defendants’ positive, but false, statements, Constellation’s stock closed as high as $88.25 per share on June 9th, 2008 and on June 27th, 2008, defendants consummated the sale of Constellation Energy Group, Inc.’s Preferred Securities pursuant to the false and misleading Registration Statement, selling 18 million shares at $25.00 per share for proceeds of approximately $435.8 million. In July 2008 Constellation Energy Group, Inc. reported favorable financial results and reaffirmed EPS guidance of 5.75 per share for 2008. But in August 2008, analysts questioned Constellation Energy Group, Inc.’s accounting and the implications of a credit downgrade. Then, on September 15th, 2008, investors and the market became aware of Constellation Energy Group, Inc.’s exposure to Lehman Brothers Holdings Inc.’s bankruptcy, which affected the Constellation Energy Group, Inc. ‘s ability to engage in energy-related trades and as a result of this news Constellation Energy Group, Inc.’s shares dropped to $47.99 or a 50% decline from the Constellation Energy Group, Inc.’s high of $97.34 per share between January 30th, 2008 and September 16th, 2008, so the lawsuit. The plaintiff alleges that the defendants were aware of the material undisclosed information which contradicted their public statements.

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