Court grants final approval of $180M derivative settlement; FirstEnergy to receive $144M net after fees

FIRSTENERGY CORP

Court approved $180M settlement funded by insurers; plaintiffs' attorney fees reduced from $48.6M to $36M.
Net recovery to FirstEnergy: $144M (after fees and expenses) for corporate use; $40M in insurance remains for other litigation.
Six legacy directors to depart board; governance reforms include enhanced political spending oversight and executive clawback policies.
Derivative lawsuits in S.D. Ohio and other courts dismissed with prejudice; joint motion to dismiss Northern District action filed.
Settlement resolves claims related to HB6 bribery scandal; company continues to cooperate with DOJ under Deferred Prosecution Agreement.

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