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Firstenergy Corp

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legalcrime1 year ago

"Former FirstEnergy Executives and Ohio Utility Regulator Indicted in Bribery Scandal"

Former FirstEnergy Corp. CEO Charles Jones, former PUCO Chairman Samuel Randazzo, and former top lobbyist Michael Dowling were booked and released from Summit County Jail after posting 10 percent of $100,000 bond. They are to be arraigned on public corruption charges in Summit County Common Pleas Court. The charges stem from payments made to Randazzo to influence legislation involving a $1.3 billion bailout of nuclear plants. The indicted individuals deny the charges, with their attorneys stating that the allegations are false and not supported by credible evidence.

via cleveland.com|
#bribery-scandal#firstenergy-corp#indictment
business2 years ago

Carl Icahn Trims FirstEnergy Stake, Relinquishes Board Seat

Activist investor Carl Icahn has reduced his stake in FirstEnergy Corp, an Ohio utility company involved in a federal corruption scandal, and has given up a board seat he controlled. Icahn's firm, the Icahn Group, trimmed its stock holdings in FirstEnergy below the 1.5% threshold that entitled them to hold board seats. Andrew Teno, a portfolio manager at Icahn Group, resigned from the board. FirstEnergy thanked Teno for his contributions and stated that it has a solid strategy in place. Icahn had been assisting FirstEnergy in moving past the corruption case involving a $1 billion state bailout for nuclear power plants.

via Yahoo Finance|
#board-seat#business#carl-icahn
sports2 years ago

Cleveland Browns terminate stadium naming-rights deal with FirstEnergy.

The Cleveland Browns and FirstEnergy Corp. have mutually agreed to end their 10-year stadium naming-rights deal, with the stadium returning to its former name, Cleveland Browns Stadium. The terms of the deal were not disclosed. The naming-rights deal had come under scrutiny due to FirstEnergy's involvement in a state corruption scandal. Two of the Browns' AFC North rivals have sold the naming rights to their stadiums in the last year.

via Akron Beacon Journal|
#afc-north#cleveland-browns#firstenergy-corp