FE News

Stocks

Headlines

FirstEnergy Settles SEC Investigation for $100 Million

FirstEnergy has agreed to a $100 million settlement with the SEC regarding its role in a bribery scandal related to Ohio's nuclear legislation. The company had set aside this amount in its second quarter earnings, indicating financial planning amidst ongoing scrutiny.

Date: 
AI Rating:   5

FirstEnergy (FE) has reached an agreement to pay $100 million to settle an investigation by the SEC concerning its bribery scandal linked to nuclear plant legislation in Ohio. This move reflects the company's previous financial strategy, as indicated by its second quarter earnings materials, where it had already taken a reserve of this exact amount in anticipation of this outcome. This settlement can have implications for investor confidence and the company’s stock performance moving forward, especially in light of regulatory scrutiny.