-

INVESTIGATION ALERT: Nationally Ranked Litigation Firm Labaton Sucharow Announces Investigation of FirstEnergy Corp (NYSE: FE) and Strongly Encourages Investors to Contact the Firm

NEW YORK--(BUSINESS WIRE)--Labaton Sucharow LLP, a leading investor rights law firm announces it is investigating potential securities violations on behalf of stock, option, and derivative investors of FirstEnergy Corp (NYSE: FE) in the wake of allegations by federal authorities that Ohio Speaker Larry Householder and four associates funneled $60 million in dark money from an unnamed company to install a “power base” in the House and pass HB-6, a $1.5 billion taxpayer-funded bailout for FirstEnergy’s nuclear and coal power plants.

FirstEnergy Corp, through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

The investigation focuses on whether FirstEnergy issued false and misleading statements regarding its business practices, internal controls and prospects. Specifically, FirstEnergy allegedly spent approximately $2.9 million on Larry Householder’s 2017 campaign. Householder became Ohio House Speaker in 2019 and allegedly returned the favor by enacting laws to support FirstEnergy’s nuclear plants as well as a pair of coal plants. In total, political donations and bribes by FirstEnergy and other parties involved may have totaled as much as $60 million.

Householder and his alleged accomplices have been charged federally with "conspiracy to participate, directly or indirectly, in the conduct of an enterprise's affairs through a pattern of racketeering activity.”

If you are a current FirstEnergy shareholder, option or derivative holder and wish to learn more or discuss the issues surrounding the investigation, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at dschwartz@labaton.com.

About the Firm

Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.

Contacts

David J. Schwartz
(800) 321-0476
dschwartz@labaton.com

Industry:

Labaton Sucharow LLP

NYSE:FE
Release Versions
English

Contacts

David J. Schwartz
(800) 321-0476
dschwartz@labaton.com

More News From Labaton Sucharow LLP

Labaton Keller Sucharow LLP and Saxena White P.A. File Securities Class Action Against Everest Group, Ltd. and Certain of Its Executives

NEW YORK--(BUSINESS WIRE)--Labaton Keller Sucharow LLP (“Labaton”) and Saxena White P.A. (“Saxena White”) have filed a securities class action lawsuit (the “Action”) on behalf of the City of Detroit General Retirement System (“Detroit General”) and the City of Plantation Police Officers’ Retirement System (“Plantation Police” and, together with Detroit General, “Plaintiffs”) against Everest Group, Ltd. (“Everest” or the “Company”) (NYSE: EG) and certain of its executives (collectively, “Defendan...

Labaton Keller Sucharow LLP Files Securities Class Action Against Bank of America Corporation and Certain of Its Executives

NEW YORK--(BUSINESS WIRE)--Labaton Keller Sucharow LLP (“Labaton”) has filed a securities class action lawsuit (the “Action”) on behalf of its client the New England Teamsters Pension Fund (“New England Teamsters”) against Bank of America Corporation (“Bank of America” or the “Company”) (NYSE: BAC) and certain of its executives (collectively, “Defendants”). The Action, which is captioned New England Teamsters Pension Fund v. Bank of America Corporation., No. 26-cv-09137 (S.D.N.Y.), asserts claim...

Labaton Keller Sucharow Launches Whistleblower Practice Led by Former SEC Acting Chair and Senior Enforcement Leader

WASHINGTON--(BUSINESS WIRE)--Labaton Keller Sucharow LLP, a global leader in complex litigation and investor and consumer protection, announces the launch of its Whistleblower Representation Practice, led by former SEC Acting Chair and Commissioner Allison Herren Lee and former SEC Senior Counsel Andrew Feller. “Establishing a dedicated whistleblower practice is a natural extension of our mission to protect investors, promote corporate accountability, and strengthen the integrity of the financi...
Back to Newsroom