FE Alert: Johnson Fistel Launches Investigation into FirstEnergy Corp.; Investors Suffering Losses Encouraged to Contact Firm
SAN DIEGO, July 22, 2020 /PRNewswire
Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against FirstEnergy Corp. (“FirstEnergy” or the “Company”) (NYSE: FE) for violations of federal securities laws.
On July 21, 2020, the Company issued a press release stating. “This afternoon, FirstEnergy Corp. (NYSE: FE) received subpoenas in connection with the investigation surrounding Ohio House Bill 6. We are reviewing the details of the investigation and we intend to fully cooperate.”
The Motley Fool reported, “The bill in question relaxed renewable energy standards and offered what have been described as ‘bailouts’ to a number of utilities, including FirstEnergy, which owns two older nuclear power plants in the state. The problem is that there are accusations of bribery involved in the passage of the bill, with some suggesting illicit payments may have gone as high as $60 million. Key Ohio politicians have already been arrested.”
Following this news, shares of FirstEnergy fell significantly.
If you have information that could assist in this investigation, or if you are a FirstEnergy shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.