FirstEnergy Reaches $100 Million Deal as SEC Also Sues Ex-CEO

FirstEnergy Corp. on Thursday reached a $100 million settlement with the Securities and Exchange Commission to resolve claims that it misled investors about bribes it paid to the then-speaker of the Ohio House of Representatives.

The settlement, which was foreshadowed in a SEC filing in July, was made public the same day the agency sued the ex-CEO of the Akron, Ohio-based utility for his alleged role in the bribery scheme, which resulted in criminal charges against eight people in state and federal court.

A cease-and-desist order detailed what the SEC said were violations, and FirstEnergy’s promise to comply with ...