05:55 PM EDT, 09/12/2024 (MT Newswires) -- FirstEnergy ( FE ) said late Thursday it reached a settlement deal with the US Securities and Exchange Commission over a previous investigation.

The company said the settlement requires a $100 million civil penalty.

"These proceedings arise out of FirstEnergy's ( FE ) participation in a multiyear political corruption scheme," according to a settlement order issued Thursday. "On July 23 and 24, 2020, FirstEnergy ( FE ) violated the antifraud provisions of the Securities Act and the Exchange Act by making misrepresentations about its role in the political corruption scheme to investors in an earnings call and in a filing with the commission."