Defendant Name: FirstEnergy Corp.

Defendant Type: Public Company

Document Reference: 33-11302-s

Document Details

Legal Case Name In the Matter of FirstEnergy Corp.
Document Name SEC Charges FirstEnergy Corp. with Fraud in Connection with Political Corruption Scheme
Document Date 12-Sep-2024
Document Format Administrative Proceeding
File Number 3-22111
Allegation Type Issuer Reporting and Disclosure
Document Summary On September 12, 2024, the SEC stated that: "[It] charged FirstEnergy Corp. ("FirstEnergy") with fraud in connection with a multi-year political corruption scheme in which FirstEnergy and affiliates made payments to an entity controlled by former Speaker of the Ohio House of Representatives, Larry Householder, in exchange for official action benefitting FirstEnergy's business interests. FirstEnergy agreed to settle the charges and pay a civil penalty of $100 million."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $100,000,000.00 Shared:    

Related Documents:

33-11302 12-Sep-2024 Administrative Proceeding
Order Instituting Cease-And-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-And-Desist Order
On September 12, 2024, the SEC instituted cease-and-desist proceedings against FirstEnergy Corp., stating: "These proceedings arise out of FirstEnergy’s participation in a multi-year political corruption scheme. Between 2017 and 2020, FirstEnergy and FirstEnergy Solutions (“FES”), through FirstEnergy Service Company, made payments totaling approximately $60 million to Generation Now (“GenNow”) in exchange for specific official action for the benefit of FirstEnergy and FES."
34-101749 25-Nov-2024 Administrative Proceeding
Extension Order
The Commission ordered that: "the Division's request for an extension of time until November 24, 2025, to submit a Proposed Plan of Distribution is granted."

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