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Investigation announced for Investors in shares of FirstEnergy Corp. (NYSE: FE)

07-27-2020 06:18 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in FirstEnergy Corp. (NYSE: FE) shares over potential securities laws violations by FirstEnergy.

An investigation for investors in FirstEnergy Corp. (NYSE: FE) shares over potential securities laws violations by FirstEnergy.

An investigation was announced concerning potential securities laws violations by FirstEnergy Corp. in connection with certain financial statements.

Investors who purchased shares of FirstEnergy Corp. (NYSE: FE), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by FirstEnergy Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Akorn, OH based FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. FirstEnergy Corp. reported that its annual Total Revenue declined from over $11.26 billion in 2018 to $11.03 billion in 2019, and that its Net Income declined from over $1.34 billion in 2018 to $912 million in 2019. Shares of FirstEnergy Corp. (NYSE: FE) grew from $35.57 per share in December 2018 to as high as $52.52 per share on February 18, 2020.

On July 21, 2020, media reported, in connection with the arrest of an Ohio lawmaker, that FirstEnergy Corp. engaged in an illegal scheme to have taxpayers bail out the Company's nuclear power plants. FirstEnergy Corp. also disclosed that it had received subpoenas in connection with an investigation into the passage of Ohio House Bill 6.

Shares of FirstEnergy Corp. (NYSE: FE) declined from over $52 per share in February 2020, to as low as $22.85 per share on July 22, 2020.

Those who purchased shares of FirstEnergy Corp. (NYSE: FE) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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