WELLINGTON, Fla., Aug. 10, 2020 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO” or the “Firm”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action experience, including cases against ENRON and HALLIBURTON), announce that a securities fraud class action lawsuit has been filed against Akron, Ohio’s FirstEnergy Corp. (NYSE: FE) on behalf of all purchasers of the Company’s common stock between February 21, 2017 and July 21, 2020, inclusive (the “Class Period”).
Class Action attorney Neil Rothstein, from Akron, encourages investors who purchased FE common stock during the Class Period to contact BARJO before September 28, 2020 - the deadline to petition the court to serve as a lead plaintiff. Rothstein has represented both institutional and large individual investors in securities class actions nationwide. The case, Owens v. FirstEnergy Corp., et al., Case No. 2:20-cv-03785, has been filed in the United States District Court for the Southern District of Ohio.
Shareholders of FE may contact Anthony Barbuto, Esq. by phone at (888) 715-2520 or by email at anthony@barjolaw.com; or Neil Rothstein, Esq. by phone at (330) 860-4092 or by email at neil@barjolaw.com.
The lawsuit alleges, in part, that FirstEnergy Corp. and certain of its executives, made materially false and misleading statements regarding the Company’s internal controls, business practices and prospects. Specifically, it is alleged in the Complaint that the defendants touted FirstEnergy’s legislative “solutions” to problems with its nuclear facilities, but failed to disclose that these “solutions” centered on an illicit campaign to corrupt high-profile state legislators in order to secure legislation favoring the Company.
When the Company’s alleged tactics were revealed to the public in connection with the $60 million racketeering and bribery scheme, the U.S. Attorney for the Southern District of Ohio revealed what he called the largest bribery and money-laundering scheme in state history. Upon the charge, shares plunged approximately 45%. FirstEnergy traded at $41.64 on June 21 and plunged as low as $22.85 the next day.
BARJO follows the principles set forth in the case Berger v. Compaq, 257 F.3d 475 (5th Cir. 2001) which states “[c]lass action lawsuits are intended to serve as a vehicle for capable, committed advocates to pursue the goals of the class members through counsel, not for capable, committed counsel to pursue their own goals through the class members.” BARJO believes strongly that the choice of a qualified lead plaintiff can have a significant impact on the successful outcome of a case.
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
1-888-715-2520
12773 Forest Hill Blvd., 101
Wellington, FL 33414
http://www.barjolaw.com