FirstEnergy Corp. Securities Fraud Litigation
Lieff Cabraser represents certain MFS funds in an individual action against FirstEnergy Corp. and certain of FirstEnergy’s senior officers and directors for violations of the Securities Act of 1933 and/or the Securities Exchange Act of 1934 arising from defendants’ illegal bribery and money laundering scheme while concealing the truth and its attendant risks as well as other material facts regarding the Company’s business operations and financial results from investors during the relevant period. Revelations of the unlawful conduct in July 2020 and thereafter caused the value of the funds’ investments in FirstEnergy stock to drop significantly.
The action was filed on December 17, 2021 in the U.S. District Court for the Southern District of Ohio. The suit seeks compensatory damages as well as extraordinary, injunctive, or equitable relief, including rescission, as appropriate.