Lawsuit Filed Against FirstEnergy

POSTED BY: News Department
Thursday, August 21, 2003 - 09:00 PM
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FirstEnergy continues to feel the burden from last week’s blackout. A Philadelphia law firm Thursday filed an investor lawsuit against the company. The lawsuit filed in Akron Federal Court says the utility misrepresented its earnings and accounting issues. FirstEnergy restated its earnings on Tuesday, reducing results by 99-million dollars. The lawsuit was filed on behalf of anyone who may have purchased stock in the utility company between April 24th, 2002, and August 5th, when it announced plans to restate its earnings.

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