In the Matter of Exelon Corporation and Commonwealth Edison Company

Admin. Proc. File No. 3-21761

On September 28, 2023, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (the “Order”) against Exelon Corporation (“Exelon”) and its subsidiary Commonwealth Edison Company (“ComEd”) (collectively, the “Respondents”). In the Order, the Commission found violations of the antifraud, books and records, and internal accounting control provisions of the Securities Act and the Exchange Act by Respondents as a result of a multi-year scheme by ComEd to corruptly influence and reward Michael Madigan (“Madigan”), the then-Speaker of the Illinois House of Representatives, for his assistance with respect to legislation affecting ComEd’s business. The scheme occurred from around 2011 through 2019 and involved ComEd arranging for various Madigan associates to obtain jobs, vendor subcontracts, and monetary payments associated with those jobs and vendor subcontracts, for the benefit of Madigan and Madigan’s associates, with the intent to influence and reward Madigan. The Commission ordered the Respondents to pay a $46,200,000.00 civil money penalty to the Commission. The Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty collected could be distributed to harmed investors (the “Fair Fund”). See the Commission’s Order: Release No. 33-11248.

The Fair Fund consists of the $46,200,000.00 collected from the Respondents. The Fair Fund has been deposited in a Commission-designated account at the U.S. Department of the Treasury, and any accrued interest will be added to the Fair Fund.

On September 3, 2024, the Commission issued an order appointing Heffler, Radetich & Saitta, LLP as the Tax Administrator of the Fair Fund. See the Commission’s Order: Release No. 34-100887.

Also on September 3, 2024, the Commission issued an order appointing Simpluris, Inc. as the Fund Administrator to oversee the administration and distribution of the Fair Fund and set the administrator’s bond amount. See the Commission’s order: Release No. 34-100888.

On December 4, 2024, the Commission published a notice of the proposed plan of distribution and opportunity for comment and simultaneously published the proposed plan of distribution (“Proposed Plan”).  The notice provided/s the public with 30 days to submit their comments on the Proposed Plan.  See the Commission’s Notice:  Release No.  34-101809 and the Proposed Plan

The Proposed Plan provides for the distribution of the Net Available Fair Fund to investors who purchased or acquired shares of the common stock of Exelon between December 1, 2016, and October 30, 2019, and suffered a Recognized Loss as calculated in accordance with the methodology described in the Plan of Allocation attached to the Proposed Plan.

On February 4, 2025 the Commission issued an order approving the Proposed Plan and simultaneously posted the approved plan of distribution (the “Plan”).  See the Commission’s Order:  Release No. 34-102344 and the Plan.

For more information, please contact the Fund Administrator:

Exelon Fair Fund 
P.O. Box 25199 
Santa Ana, CA 92799
Tel : 866-675-2445
Email: info@ExelonFairFund.com
Website: www.ExelonFairFund.com