Exelon to Pay $40 Million to Settle Investor Suit Over Bribery

Exelon Corp. agreed to pay $40 million to settle a shareholder lawsuit over an Illinois bribery scandal involving its Commonwealth Edison Co. utility.

In addition to the payment, the proposed settlement includes various compliance and disclosure reforms and certain changes in board and committee appointments, according to a filing Friday. The agreement is subject to court approval.

Several shareholders alleged current and former Exelon and Commonwealth Edison directors, executives and employees breached fiduciary duties leading up to the company’s deferred prosecution agreement with the US Department of Justice in 2020. In that agreement, Commonwealth Edison admitted to making statehouse bribes ...