FirstEnergy (FE) Surges By 5% Today After Agreeing To Pay $250 Million: Is It a Trustworthy Stock For You?

FirstEnergy stock has been stable at one pace for the last 2 days trading at $37.73. As of right now at the open market, the stock is trading at $39.30 marking a 5% increase. FirstEnergy, which is based in Ohio, agreed to pay $230 million to resolve the charges.

FirstEnergy Corp. admitted Wednesday that it paid millions of dollars to officials in exchange for their support of nuclear energy policies. The investigation, which is focused on public corruption cases in Ohio, came as a result of ongoing federal investigations. FirstEnergy Corp., Ohio’s largest utility, said on Thursday it would pay a $670 million penalty to resolve an investigation by the US Department of Justice. FirstEnergy has agreed to pay a $25 million fine and to cooperate with the US government in its investigation of the company.

FirstEnergy Corp. delivers electricity to customers in Ohio, Pennsylvania, and West Virginia. It operates underground and overhead transmission lines and electric distribution systems. FirstEnergy is a Fortune 500 company focused on delivering safe and reliable electric service to customers across nine states.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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