FirstEnergy Ordered to Pay $100M Fine

This is a news story, published by ABC News, that relates primarily to FirstEnergy Corp. news.

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Ohio bribery scheme

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bribery scheme

ABC News

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Utility ordered to pay $100 million for its role in Ohio bribery scheme

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Akron-based FirstEnergy Corp. violated antifraud provisions by misrepresenting its role in the political corruption scheme and failing to disclose related payments, according to the SEC .

It said in a cease and desist order that the utility’s former CEO made a “series of misrepresentations to investors” in a news release and later during a July 2020 earnings conference call.

Action comes a month after FirstEnergy agreed to pay $20 million to avoid criminal charges as part of a deal with state prosecutors.

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