Portnoy Law: Lawsuit Filed On Behalf of FirstEnergy, Corp. Investors

Los Angeles, California, UNITED STATES

Click here to join the case

LOS ANGELES, Sept. 04, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf First Energy, Inc. ("FirstEnergy" or "the Company") (NYSE: FE) investors that acquired securities between February 21, 2017 and July 21, 2020.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

FirstEnergy, Corp. made false and misleading statements to the market. FirstEnergy and associated organizations and individuals were the architects of a $60 million scheme which involved bribery as well as the corruption of the political process, with the goal of securing legislation favorable to its interest. FirstEnergy secretly bribed Ohio politicians with tens of millions of dollars to secure support for Ohio House Bill 6 ("HB 6"), a $1.3 billion ratepayer bailout of FirstEnergy’s unprofitable nuclear generation plants. The Company funneled millions of dollars through "dark money" organizations in order to conduct a misleading advertising campaign which was in favor of the bill, all the while concealing the Company’s involvement. FirstEnergy hired 15 signature-gathering firms while bribing others involved in a ballot initiative aimed at repeal of HB6 in order to thwart the effort. Based on these facts, FirstEnergy made public statements that were false and materially misleading throughout the class period. When the truth about FirstEnergy, Corp. was revealed to the market, investors suffered damages.

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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar

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