SEC Says It Charged Exelon, Its Subsidiary Commonwealth Edison, Subsidiary's Former CEO Anne Pramaggiore With Fraud In Connection With Political Corruption Scheme; Exelon And Comed Agreed To Settle The Charges; Exelon Paying A Civil Penalty Of $46.2M
Portfolio Pulse from Charles Gross
The Securities and Exchange Commission (SEC) has charged Exelon, its subsidiary Commonwealth Edison, and the subsidiary's former CEO Anne Pramaggiore with fraud in connection with a political corruption scheme. Exelon and Comed have agreed to settle the charges, with Exelon paying a civil penalty of $46.2 million.
September 28, 2023 | 9:07 pm
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Exelon has been charged with fraud by the SEC and has agreed to pay a $46.2 million penalty. This could negatively impact the company's reputation and financials in the short term.
The SEC's fraud charges and the subsequent penalty payment could harm Exelon's reputation, potentially leading to a loss of investor confidence and a decrease in stock price. The financial impact of the penalty could also affect the company's short-term financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100