Judge OKs securities claim against ComEd

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted May 27, 2021 11:43 AM

Commonwealth Edison and its parent company, Exelon, did not have a freestanding duty to disclose that ComEd allegedly participated in a corrupt scheme to secure passage of the Energy Infrastructure Modernization Act and the Future Energy Jobs Act by the Illinois legislature. But in the securities fraud class action that inevitably followed announcement of the “deferred prosecution agreement” that required the corporations to fess up and pay a $200 million penalty for bribery, the named plaintiff alleged that both companies …

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