CAMDEN — Holtec International, owner of the defunct Oyster Creek nuclear power plant, is being sued by the company's former chief financial officer in a whistleblower lawsuit.
In it, former CFO Kevin O'Rourke accuses the Camden-based nuclear parts manufacturer of attempting to coerce him to submit inaccurate and false financial statements to a major investor, which allegedly involved hundreds of millions of dollars. The company then fired him when he refused, according to a lawsuit filed in June in state Superior Court, Camden.
Attorneys for O'Rourke allege in the court filings that Holtec fired him after he refused to participate in presenting misleading financial reports to Hyundai Engineering and Construction.
Holtec and Hyundai partnered last year to begin design on Holtec's SMR-160 advanced small modular reactor, a standard design nuclear energy plant that the company sees as the future of nuclear energy.
Holtec also owns a number of non-operational nuclear plants, including the Oyster Creek facility in Lacey, the Indian Point Energy Center in Buchanan, New York; and the Pilgrim Nuclear Power Station in Plymouth, Massachusetts. The company plans to profit from each plant's decommissioning trust fund by taking apart the plants for less money that the balance of the trust funds.
O'Rourke's lawsuit alleges Holtec officials — including company founder, president and CEO Krishna Singh — prepared to present Hyundai with an investment prospectus that...
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