It’s unclear whether the money will get spread out among the individual plaintiffs in the four cases or among FirstEnergy’s approximately 2 million Ohio customers.
COLUMBUS, Ohio — Last week, FirstEnergy Corp. reached a $37.5 million settlement to resolve four lawsuits filed by ratepayers who sued the Akron-based utility over the House Bill 6 scandal, company’s CEO Steven Strah told investors Friday.that it set aside the money to settle the suits -- three in federal court, one in Cuyahoga County Common Pleas court -- that alleged the company committed civil federal and state anti-racketeering violations.
As of Friday, no settlement documents had been filed in the online court dockets of any of the four lawsuits.FirstEnergy is still involved in a number of other lawsuits related to HB6, which federal authorities say was passed thanks to $60 million in FirstEnergy bribe money distributed via a network overseen by then-Ohio House Speaker Larry Householder.
The energy law provided massive benefits for FirstEnergy, including a $1 billion-plus bailout to two nuclear power plants owned by a then-subsidiary of FirstEnergy, as well a so-called “decoupling” provision that allowed FirstEnergy to collect millions of dollars more from ratepayers than it would otherwise be permitted to.
Last year, FirstEnergy agreed to a deferred prosecution agreement with federal prosecutors in which it agreed to pay a $230 million fine for bribing top state officials to secure policies that helped the company. Householder, who says he’s innocent, is set to stand trial next year.
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