Exelon, ComEd Must Face Investor Suit on Bribery, Stock Drop

Exelon Corp. and subsidiary Commonwealth Edison Co. failed Wednesday to convince a federal judge in Illinois to throw out a would-be class suit alleging they misled investors about an eight-year bribery scheme.

Exelon investors accused the two companies of making false and misleading statements to cover up the scheme, which ComEd admitted to in July 2020. The investors adequately pleaded a securities law violation, the U.S. District Court for the Northern District of Illinois said.

The companies argued that the complaint inappropriately lumped them together as one and treated statements about Exelon and any of its subsidiaries as if ...