FirstEnergy Vies to Keep $180 Million Accord Intact Amid Appeal

FirstEnergy Corp. should be able to collect on a $180 million settlement in a shareholder derivative suit against its former executives and directors, the company said in a brief opposing an appeal of the plan.

The settlement, which a judge in US District Court for the Southern District of Ohio approved in August 2022, would be among the nation’s largest derivative recoveries ever, according to involved lawyers. Shareholder Todd Augenbaum appealed that court’s approval of the deal last month, arguing that another judge overseeing a simultaneous derivative suit in the Northern District of Ohio should have had a say in ...