Defendant Name:
American Electric Power Company, Inc.
Defendant Type:
Public Company
SIC Code:
4911
CUSIP:
02553710
Document Reference:
33-11356
Document Details
Legal Case Name
In the Matter of American Electric Power Company, Inc.
Document Name
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
Document Date
17-Jan-2025
Document Format
Administrative Proceeding
AAER
4558
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On January 17, 2025, the SEC instituted settled cease-and-desist proceedings against American Electric Power Company, Inc., stating: "These proceedings arise out of American Electric Power's violations of the federal
securities laws in connection with its relationship with, and statements made about, Empowering
Ohio's Economy, Inc. ("Empowering Ohio"), an Internal Revenue Code Section 501(c)(4) entity
that American Electric Power formed, fully funded, and controlled."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Distribution Plan Undertaking
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$19,000,000.00
Shared:
Related Documents:
SEC Charges American Electric Power Company with Making Fraudulent Disclosures
On January 17, 2025, the SEC stated that: "[It] charged American
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press release regarding AEP’s relationship with a related party and payments made to
entities associated with politicians. AEP agreed to settle the charges and pay a civil
penalty of $19 million."
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The Commission ordered that: "[T]he Division’s request for an extension of time until May 15, 2026 to submit a Proposed Plan of Distribution is
granted."
34-104801
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The Commission ordered that: "Miller Kaplan Arase
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34-105122
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Administrative Proceeding
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The Commission ordered that: "A. Epiq is appointed as the Fund Administrator . . . ; B. Epiq shall obtain a bond . . . in the amount of $19,000,000; C. the Fund Administrator will submit invoices to the Commission staff for services rendered . . . ; and D. at the direction of an Assistant Director of the Office of Distributions, OFM is authorized to pay the Fund Administrator’s fees and expenses from the Fair Fund . . . so long as the total amount paid to the Fund Administrator, including the invoice to be paid, does not exceed the total amount of the approved cost proposal submitted by the Fund Administrator."
34-105348
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Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of monies paid in the above-captioned matter."
Proposed Plan of Distribution
The Commission stated: "The Division of Enforcement submits this Proposed Plan of Distribution (the “Plan”) . . . the Plan seeks to compensate investors who were harmed by the Respondent’s conduct described in the Order, in connection with share price inflation caused by the Respondent’s false and misleading statements."
