KSF News, Updates, & Insights
KSF Obtains Final Settlement of Derivative Claims in the Matter of Exelon Corporation
On September 22, 2026, the Hon. John Robert Blakey, United States District Judge for the Northern District of Illinois, entered an order granting final approval to a settlement in the shareholder derivative actioncaptioned In re Exelon Corporation Derivative Litigation, Case No. 1:21-cv-03611. Plaintiffs had filed the initial complaint on July 8, 2021, alleging violations of the Securities Exchange Act of 1934, breaches of fiduciary duty, and unjust enrichment. Kahn Swick & Foti, LLC represents stockholder William Grunze, who made a books and records demand on August 23, 2021 and a litigation demand on the Company on January 5, 2022, and has settled his claims in the global settlement. Pursuant to the terms of settlement, defendants will make a payment of $40 million to Exelon, and institute various reforms at the company, including enhancing its Compliance and Clawback Policies, introducing new policies regarding misconduct by the Company’s officers and disclosure of any legislative activity by the Company, implementing an external audit review of the Company’s compliance program and culture, increasing board oversight of the Company’s lobbying and political activities, aligning executive compensation with the Company’s adherence to its legal and ethical obligations, amending the board composition to include three new independent directors, and reducing total payable compensation to former Exelon CEO Christopher Crane by nearly $4.3 million.