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FirstEnergy Faces Raft Of Lawsuits In Wake Of Bribery Scandal

Dec 30, 2020

Ohio's largest utility faces more than a dozen lawsuits filed by angry shareholders even as it is already battered by scandal.

A suspected bribery and corruption scheme involving Akron-based FirstEnergy Corp. includes some of the country’s largest institutional investors. The first lawsuits were filed within a week and now total more than a dozen.

FirstEnergy is also under federal investigation for in a suspected $60 million bribery scheme.

It isn’t the first time the utility has found itself defending its actions. It settled a class action lawsuit in 2004 for nearly $80 million for lying about a hole in a reactor head at a nuclear plant and for contributing to the largest blackout in U.S. history.