FirstEnergy Securities Class Certification Undone on Appeal (2)

FirstEnergy Corp. on Wednesday won a Sixth Circuit ruling rejecting class certification in a securities lawsuit it faces after being implicated in an Ohio political scandal.

The lower court judge who certified the class applied the wrong legal standard when it concluded the communications at the heart of this case were primarily omission-based, the US Court of Appeals for the Sixth Circuit ruled.

The unanimous three-judge panel emphasized its remand was limited, and that it was vacating the March 2023 certification order only to remand the case to Columbus, Ohio, US District Juge Algenon Marbley for reconsideration under the proper ...