CLEVELAND, Ohio – A federal appellate court has thrown out an attempt by investors to consolidate their securities lawsuits against FirstEnergy Corp., a move that stems from the tainted House Bill 6 scandal.

The 6th U.S. Circuit Court of Appeals on Wednesday reversed the ruling of Judge Algenon L. Marbley, who certified as a class all purchasers of the utility’s stock and bonds over a roughly 3.5-year period. The investors alleged that the company’s political bribery scheme amounted to securities fraud.

The ruling amounts to a major win for FirstEnergy, as many of those who joined the case as part of a class-action lawsuit would not seek to sue the utility on their own. Thus, there is a greater chance for a smaller settlement amount if the case reaches that point.

FirstEnergy has admit

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