FirstEnergy Loses Quick Appeal Bid in Derivative Suit on Bribes

FirstEnergy Corp. failed to get an early review of a decision allowing a shareholder derivative suit over an alleged bribery scheme to move forward after a federal judge in Ohio rejected its bid for an interlocutory appeal.

The energy company unsuccessfully moved to dismiss the case in May and sought a quick appellate review as to whether its shareholders sufficiently pleaded causation. But the case isn’t “the exceptional sort that should be certified for interlocutory appeal,” the U.S. District Court for the Southern District of Ohio said.

The shareholders pleaded that FirstEnergy’s proxy statements misrepresented its “oversight of, and ...