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FirstEnergy Corp. has reached a settlement with the Securities and Exchange Commission (SEC) following an investigation into its involvement in a political corruption scheme in Ohio. The utility company has been ordered to pay $100 million for misleading investors about its role in the $60 million bribery scandal. The SEC found that Akron-based FirstEnergy violated antifraud provisions by misrepresenting its involvement and failing to disclose related payments. The settlement also resolves issues related to the company's books and records and internal controls. Former CEO Chuck Jones faces a lawsuit for securities violations related to the scheme.
Akron-based FirstEnergy Corp. violated antifraud provisions by misrepresenting its role in the political corruption scheme and failing to disclose related payments, according to the SEC. https://t.co/igTSH03VAs
First Energy Resolves Books And Records And Internal Controls Matter Related To U.S. “Political Corruption Scheme” #fcpa https://t.co/YzvzAplH3y https://t.co/s0zum301KS
🚨🇺🇸 FIRSTENERGY TO PAY $100 MILLION FOR ROLE IN OHIO BRIBERY SCHEME FirstEnergy Corp. has been ordered by the SEC to pay $100 million for misleading investors about its involvement in Ohio's $60 million bribery scandal. Former CEO Chuck Jones faces a lawsuit for securities… https://t.co/raCppqI3ei
