NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of Ohio on behalf of those who acquired FirstEnergy Corp. (“FirstEnergy” or the “Company”) (NYSE: FE) securities during the period from February 21, 2017 through July 21, 2020, (the “Class Period”). Investors have until September 28, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
According to the Complaint, the Company made false and misleading statements to the market. FirstEnergy and associated organizations and individuals were the architects of a $60 million scheme involving bribery and the corruption of the political process with the goal of securing legislation favorable to the Company. The Company secretly bribed Ohio politicians with tens of millions of dollars to secure votes for Ohio House Bill 6 (“HB 6”), a $1.3 billion ratepayer bailout of the Company’s unprofitable nuclear generation plants. The Company funneled millions of dollars through "dark money" organizations to conduct a misleading advertising campaign in favor of the bill while concealing its involvement. The Company hired 15 signature gathering firms and bribed others involved in a ballot initiative to repeal HB6 in order to thwart the effort, among other unscrupulous tactics. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about FirstEnergy, investors suffered damages.
If you acquired FirstEnergy securities during the Class Period, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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