Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired FirstEnergy Corp. (“FirstEnergy”) (NYSE: FE) securities between February 21, 2017 and July 21, 2020, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company’s business, operations and. prospects. Specifically, the complaint alleges that Defendants touted FirstEnergy’s legislative “solutions” to problems with its nuclear facilities, but failed to disclose that these “solutions” centered on an illicit campaign to corrupt high-profile state legislators in order to secure legislation favoring FirstEnergy. Over a nearly three-year period, FirstEnergy and its affiliates funneled more than $60 million to prominent state politicians and lobbyists, including Ohio Speaker Larry Householder, in order to secure the passage of Ohio House Bill 6, which provided a $1.3 billion ratepayer-funded bailout to keep the company’s failing nuclear facilities in operation. In addition, Defendants falsely represented that they were complying with state and federal laws and regulations regarding regulatory matters throughout the Class Period, exposing the company and its investors to the extreme undisclosed risks of reputational, legal and financial harm.
Current Status of Case:
On June 6, 2022, the Lead Plaintiff filed a Motion to Certify the Class, which was granted by the District Court on March 20, 2023. This Order was appealed, and on August 14, 2025, the United States Court of Appeals for the Sixth Circuit vacated part of the District Courts’ Class Certification Order and sent the case back to the District Court for further proceedings. This action is in the discovery phase and is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.