FIRSTENERGY SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against FirstEnergy Corp. - FE
NEW ORLEANS, July 31, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilSeptember 28, 2020 to file lead plaintiff applications in a securities class action lawsuit against FirstEnergy Corp. (NYSE: FE), if they purchased the Company's shares between February 21, 2017 and July 21, 2020, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of Ohio.
What You May Do
If you purchased shares of FirstEnergy and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-fe/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 28, 2020.
About the Lawsuit
FirstEnergy and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 21, 2020, federal law enforcement officials announced the arrest of Ohio House Speaker Larry Householder and others in connection with a $60 million racketeering and bribery scheme designed to ensure the passage of legislation that included a billion-dollar bailout of two failing nuclear power plants owned by the Company's former subsidiary and operated by the Company. Further, the Company disclosed the same day that it had received subpoenas in connection with the investigation, which is ongoing.
On this news, the price of FirstEnergy's shares plummeted.
The case is Owens v. FirstEnergy Corp., No. 20-cv-3785.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.