Litigators from Kirkland & Ellis and Crowell & Moring scored a $109 million win for their railroad clients in a contract fight with FirstEnergy Solutions Corp. over transporting coal.
In a filing with the U.S. Securities and Exchange Commission, FirstEnergy on Wednesday disclosed the settlement, which it said came after a panel of arbitrators denied the company’s demand for declaratory judgment and ruled that it “breached and repudiated” a long-term contract with BNSF Railway Co. and CSX Transportation Inc. to transport coal.
