NEXTERA ENERGY NEW YORK, June 3, 2023 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against NextEra Energy, Inc. ("NextEra Energy" or the "Company") (NYSE: NEE) and reminds investors of the July 25, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in NextEra Energy stock or options between December 2, 2021 and February 1, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/NEE.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
Beginning in December 2021, media outlets, including the Orlando Sentinel and Miami Herald, began reporting that FPL and political consulting firm, Matrix LLC had potentially violated state and federal campaign finance laws by using a network of nonprofits to steer funding to spoiler "ghost candidates" to derail the campaign efforts of unfriendly legislators seeking reelection to Florida state offices in 2020. Later reports alleged that FPL also spied on journalists following unsupportive reporting, improperly courted public officials with job offers while bidding to privatize certain public utilities, and FPL executives knowingly approved of Matrix's dirty tricks to benefit the Company.
For more than a year, FPL denied these allegations, while executives and top corporate officers at NextEra falsely claimed that the alleged political misconduct orchestrated by FPL did not expose the Company to any meaningful legal or reputational risk based on an internal investigation. NextEra later acknowledged the opposite when FPL President and CEO Eric Silagy abruptly resigned, and the Company included a new risk disclosure in its SEC filings explicitly addressing the issue on January 25, 2023.
On this news, NEE's stock dropped $7.31 per share, or about 8.7%, representing a loss of approximately $15 billion in market capitalization on unusually high trading volume on January 25, 2023.
NextEra Energy stock continued to drop over the next several trading days, until, on January 31, 2023, the Florida Times Union reported that NextEra executives disclosed that Silagy's exit agreement included a multi-year "claw back on compensation for any legal wrongdoing" tacitly acknowledging the link between Silagy's departure and the new risk disclosure statement.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding NextEra Energy's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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SOURCE Faruqi & Faruqi, LLP
