PHILADELPHIA, Aug. 10, 2020 /PRNewswire/ — Kaskela Law LLC announces that it is investigating FirstEnergy Corp. (“FirstEnergy”) (NYSE: FE) on behalf of the company’s stockholders. The investigation seeks to determine whether the members of FirstEnergy’s board of directors breached their fiduciary duties to FirstEnergy and its stockholders.
Current FirstEnergy stockholders who purchased or acquired shares of the company’s stock prior to February 21, 2017 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or online at http://kaskelalaw.com/case/firstenergy-corp/, to discuss this investigation and their legal rights and options with respect to this matter.
Recently a securities fraud complaint was filed against FirstEnergy and certain of the company’s executive officers on behalf of investors who purchased shares of FirstEnergy’s stock between February 21, 2017 and July 21, 2020 (the “Class Period”). According to the complaint, during the Class Period the 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 the Company.”
On July 21, 2020, the U.S. Attorney’s Office for the Southern District of Ohio filed an 82 page criminal complaint detailing a “brazen scheme by FirstEnergy and its affiliates and representatives to corrupt the political process and undermine democratic institutions in the State of Ohio in order to secure passage of HB6.” Following this news, shares of FirstEnergy’s common stock declined $14.17 per share, or 34% in value, to close on July 22, 2020 at $27.09 per share, on heavy trading volume.
Current FirstEnergy stockholders who purchased or acquired shares of the company’s stock prior to February 21, 2017 are encouraged to contact Kaskela Law LLC for additional information about this investigation and their legal rights and options with respect to this matter.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
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SOURCE Kaskela Law LLC