LOS ANGELES, CA / ACCESSWIRE / August 14, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against FirstEnergy Corp. ("FirstEnergy" or "the Company") (NYSE:FE) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission."
Investors who purchased the Company's securities between February 21, 2017 and July 21, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before September 28, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. FirstEnergy and associated organizations and individuals were the architects of a $60 million scheme involving bribery and the corruption of the political process with the goal of securing legislation favorable to the Company. The Company secretly bribed Ohio politicians with tens of millions of dollars to secure votes for Ohio House Bill 6 ("HB 6"), a $1.3 billion ratepayer bailout of the Company's unprofitable nuclear generation plants. The Company funneled millions of dollars through "dark money" organizations to conduct a misleading advertising campaign in favor of the bill while concealing its involvement. The Company hired 15 signature-gathering firms and bribed others involved in a ballot initiative to repeal HB6 in order to thwart the effort, among other unscrupulous tactics. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about FirstEnergy, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm