An Exelon Corp. shareholder filed a lawsuit against current and former executives of the energy company and its Commonwealth Edison unit, alleging they made misleading statements related to a years-long bribery scheme in Illinois.
The suit filed Thursday by Exelon shareholder James Clem said the officers breached their fiduciary duties leading up to the company’s July 2020 settlement with federal prosecutors. In the settlement, Commonwealth Edison (ComEd) admitted to making statehouse bribes to gain legislative favors and agreed to pay a $200 million fine.
Clem said he was bringing the shareholder derivative suit after Exelon’s board failed to respond in ...
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