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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Exelon Corporation    EXC

EXELON CORPORATION

(EXC)
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Exelon : Unit to Pay $200 Million to Resolve DOJ Lobbying Probe

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07/17/2020 | 10:51am EDT

By Colin Kellaher

 

Exelon Corp. on Friday said its ComEd unit would pay $200 million as part of an agreement to resolve a U.S. Justice Department investigation into the unit's lobbying practices in Illinois.

Under a three-year deferred prosecution agreement, ComEd also agreed to the government's filing of a single charge that will be dismissed if the unit abides by all terms, Exelon said, adding that the fine won't be recovered in rates or charged to customers.

Exelon said it acted swiftly to investigate when it learned about the inappropriate lobbying conduct at the unit, and that it determined that a small number of senior ComEd employees and outside contractors were responsible.

"Since then, we have taken robust action to aggressively identify and address deficiencies, including enhancing our compliance governance and our lobbying policies," the company said.

Exelon noted that the conduct at issue relates only to ComEd, and that the agreement doesn't contain any allegation of misconduct by the parent company.

While the deal resolves the government's investigation into both ComEd and Exelon, a related U.S. Securities and Exchange Commission investigation, as well as civil lawsuits, remain pending, Exelon said.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
EXELON CORPORATION -1.18% 41.7 Delayed Quote.-8.53%
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Financials (USD)
Sales 2020 30 661 M - -
Net income 2020 2 757 M - -
Net Debt 2020 38 580 M - -
P/E ratio 2020 14,4x
Yield 2020 3,66%
Capitalization 40 637 M 40 637 M -
EV / Sales 2020 2,58x
EV / Sales 2021 2,65x
Nbr of Employees 32 713
Free-Float 99,5%
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Technical analysis trends EXELON CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 46,28 $
Last Close Price 41,70 $
Spread / Highest target 36,7%
Spread / Average Target 11,0%
Spread / Lowest Target -11,3%
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Managers
NameTitle
Christopher M. Crane President, Chief Executive Officer & Director
Mayo A. Shattuck Chairman
Bridget M. Reidy Executive Vice President-Corporate Operations
Joseph Nigro Chief Financial Officer & Senior Executive VP
Michael R. Koehler Chief Information & Digital Officer, Senior VP
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