FirstEnergy Shareholders Obtain Class Status in Bribery Case

FirstEnergy Corp. investors may proceed on behalf of a class on allegations that the company misled them about its role in a state legislative bribery scandal, a federal court ruled Thursday.

The case meets the requirements for class certification, including the predominance of common issues, Judge Algenon L. Marbley said for the US District Court for the Southern District of Ohio.

• Investors accuse the energy company of misleading them about a nuclear plant subsidy bribery scandal involving Ohio’s state legislature
• They allege FirstEnergy’s stock lost billions of dollars in market value after the scheme crumbled
• Marbley approved a $180 million ...