FirstEnergy Corp. is the target of a class-action lawsuit filed
shortly after the Akron utility last week announced it will have to
restate earnings.
The lawsuit, filed late Friday afternoon in U.S. District Court
for the Northern District of Ohio, claims FirstEnergy executives
violated securities law and defrauded investors by misstating and
misrepresenting the company's finances.
The company fully disclosed its financial condition, FirstEnergy
spokesman Ralph DiNicola said.
It's not unusual for class-action lawsuits to be filed after a
company restates earnings, he said.
80
64
