October 02, 2023
An Ohio federal judge paused a derivative shareholder suit brought against FirstEnergy Corp. over its $1 billion bribery scandal, telling the parties that his jurisdiction over their claims hinges on the result of a Sixth Circuit appeal brought by an investor who objected to a $180 million settlement in a parallel case.
May 22, 2023
An Ohio federal court has rejected a FirstEnergy shareholder's objection to a $180 million settlement the energy company reached with investors to end a lawsuit accusing executives of bribing Ohio lawmakers for a $1 billion bailout, according to an opinion issued Monday.
December 21, 2022
From a billion-dollar deal in Delaware to a hard-fought battle over a bribery scandal involving Ohio's legislature, securities litigators secured big settlements this year that sprang from both class actions and derivative suits, with a high number of resolutions occurring in Delaware Chancery Court.
October 12, 2022
FirstEnergy Corp. has told an Ohio federal judge that a shareholder's opposition to the $180 million settlement that the electric utility company reached with investors is a "baseless attempt" to upend the settlement "for his own advantage," and should be rejected.
August 23, 2022
An Ohio federal judge gave final approval Tuesday to FirstEnergy Corp.'s $180 million settlement with investors who brought derivative suits over a bribery scandal embroiling the electric utility company and the state legislature, while reducing the attorney fees in the case by more than $12 million.
July 29, 2022
A second shareholder has come out against a $180 million plan to end several derivative lawsuits over a FirstEnergy Corp. bribery scandal, arguing that the proposed settlement lets company officials off the hook in favor of a large payout for plaintiffs' attorneys.
July 22, 2022
A group of independent directors appointed to the board of FirstEnergy Corp. in the wake of a $1 billion bribery scandal said in a Thursday court filing that attorneys representing company shareholders shouldn't get to claim a full 27% of a $180 million settlement because they weren't alone in working to improve the company.
July 15, 2022
An Ohio federal judge seemingly frustrated by an attempt to throw out a derivatives suit over FirstEnergy Corp.'s billion-dollar bailout and bribery scandal has told lawyers representing a company shareholder this week that he plans to replace them with new counsel. Correction: A previous version of the article incorrectly stated that current attorneys had been dismissed from the suit. The error has been corrected.
July 08, 2022
Attorneys for FirstEnergy Corp. shareholders have asked an Ohio federal judge to approve their requested $48.6 million in attorney fees and give final approval to a $180 million settlement to end litigation over the company's billion-dollar nuclear energy bailout bribery scandal.
June 13, 2022
FirstEnergy Corp. and a group of its shareholders have asked an Ohio federal judge to dismiss a suit over the company's billion-dollar nuclear energy bailout bribery scandal, telling the judge the claims have been addressed by a $180 million settlement in another case.