The True Cost of ComEd Bribery Exceeds $17 Billion dollars – Not the $200 million stated by Governor Pritzker
Romanucci & Blandin, LLC and DiCello Levitt Gutzler LLC together counter Governor Pritzker’s plan that quantifies the ComEd’s ill-gotten gains from its admitted bribery scheme $200 million. The two law firms are co-lead counsel in a class action lawsuit against Commonwealth Edison (ComEd) and others and say that the true cost of ComEd’s admitted corruption exceeds $17 billion. This significant gap has meaningful implications for lawmakers, consumers, and businesses in Illinois.
As a result of ComEd’s admitted bribery of the legislature, Illinois consumers paid $5,218,498,210 through June 1, 2021. The net present value going forward is $12,030,189,279 for a total (NEV) of $17,248,689,489. Moreover, Exelon has misrepresented its nuclear energy margins. Federal records reflect Exelon Generation is selling 8% of its energy to Commonwealth Edison at wholesale prices of $25/mgw, which Exelon is selling through its subsidiary, Constellation Energy, at double the rate. They are using Illinois subsidies to sell their nuclear energy to other states at a high profit margin, and none of this has been communicated to Springfield lawmakers.
The class action lawsuit was filed July 27, 2020 in the Circuit Court of Cook County, Chancery Division on behalf of consumers and businesses alleging that ComEd violated the Illinois Consumer Fraud Act and unjustly enriched itself by overcharging its 4 million customers in Illinois for years. The $200M ComEd agreement in 2020 to pay the government following a federal bribery investigation does nothing to compensate the individuals and businesses who actually overpaid.
The suit was filed on behalf of three individuals and three businesses. The plaintiffs have been ComEd customers since at least 2011, the year federal prosecutors say the bribery scheme began. The suit followed after ComEd admitted to the scheme involving jobs, contracts and payments to government leaders in Springfield. The class action suit seeks to represent a large percentage of ComEd customers during the period of time established by prosecutors.
“This is a complex web of corruption in the form of bribery of Illinois elected officials, ComEd and its parent company, Exelon Corporation, that we now can show cost ratepayers exponentially more than Governor Pritzker is claiming. ComEd needs to be held fully accountable for its actions and class members need to recover the damages that they sustained as a result of those actions,” said attorney Adam Levitt of DiCello Levitt Gutzler LLC.
“We need lawmakers in Springfield, including the Governor, to stop and fully understand the magnitude of this problem before giving ComEd another handout. The stakes are too high on this issue to proceed without acknowledging the scope of this bribery and how it financially harmed consumers and businesses in ways that haven’t been explained until now,” said attorney Stephan Blandin of Romanucci & Blandin, LLC.
About Romanucci & Blandin, LLC
Romanucci & Blandin is a national trial practice committed to fighting for victims of negligence, abuse and wrongful death arising from police misconduct, corporate negligence, civil rights actions, medical malpractice, mass torts and class actions. The attorneys’ steadfast commitment to fighting for those seeking justice around the country has helped the firm obtain multiple verdicts and settlements in the millions of dollars. The Chicago-based personal injury lawyers are dedicated to providing victims who suffered injury as a result of another’s wrongdoing full and fair compensation in a diligent, professional, skilled and caring manner. The lawyers actively support their communities and provide advocacy at the national, state and local levels on issues that support the U.S. tort system. Founded in 1998, Romanucci & Blandin is widely recognized for representing plaintiffs in numerous practice areas including: personal injury, wrongful death, medical malpractice, workers’ compensation, pharmaceutical, mass torts, civil rights, police misconduct, excessive force, aviation, product liability and premises liability. For more information about Romanucci & Blandin, please visit www.rblaw.net or call (312) 458-1000.
About DiCello Levitt Gutzler LLC
DiCello Levitt Gutzler combines excellence in commercial litigation, class action litigation, mass tort litigation, catastrophic injury litigation, medical malpractice litigation, and civil rights litigation. Practicing nationwide—and internationally—from offices in Chicago, Cleveland, New York, St. Louis, Washington D.C., Detroit, and Birmingham, we are an aggressive, attentive, and creative plaintiffs’ firm whose work speaks for itself—billions of dollars in recoveries in some of the highest-profile matters in U.S. history. The firm’s attorneys have successfully led—and are presently leading—many large class and multidistrict actions, including against industry titans such as Apple, Intel, General Motors, and Equifax, and representing businesses and investors in arbitrations and litigation in multiple courts. The DiCello Levitt Trial Advocacy Center proactively assists in all aspects of litigation strategy, framing, and trial preparation, with an in-house focus grouping and mock jury practice, using those tools to streamline cases, refine case messaging, and focus discovery on message-specific issues from the outset of litigation. Revered by clients and respected by defense counsel, our team gets results. For more information about DiCello Levitt Gutzler, please visit www.dicellolevitt.com or call (312) 214-7900.
