Investigation of FirstEnergy Corp.’s Officers for Breach of Fiduciary Duties
Lawfirm Scott+Scott is investigating whether FirstEnergy’s board of directors or senior management failed to manage FirstEnergy in an acceptable manner, in breach of their fiduciary duties to FirstEnergy, and whether FirstEnergy has suffered damages as a result.
On July 21, 2020, federal agents arrested Ohio Speaker Larry Householder and several other individuals, including a FirstEnergy lobbyist, in connection with a $60 million corruption scheme. On this news, FirstEnergy stock price declined 45% from $41.26 per share on July 20, 2020, to as low as $22.85 per share on July 22, 2020.
of FirstEnergy Corp. (“FirstEnergy”) (NYSE: FE) breached their fiduciary duties to FirstEnergy and its shareholders.