Discovery Stay Request Denied Over Company’s Delay In Setting Up SLC

Mealey's (October 21, 2021, 1:53 PM EDT) -- COLUMBUS, Ohio — A federal judge in Ohio on Oct. 20 denied a motion to stay filed by a recently formed special litigation committee (SLC) of the board of directors of energy provider FirstEnergy Corp. in a shareholder derivative lawsuit stemming from the board’s alleged involvement in a massive bribery, racketeering and pay-to-play scheme with Ohio legislators, ruling that, considering all necessary factors, a discovery stay is not warranted due to FirstEnergy’s delay in setting up the SLC....