Philadelphia, Pennsylvania--(Newsfile Corp. - June 9, 2023) - Berger Montague advises investors that a securities fraud class action lawsuit has been filed against NextEra Energy, Inc. ("NEE") (NYSE: NEE) on behalf of those who purchased NEE securities between December 2, 2021, and February 1, 2023, inclusive (the "Class Period").
Investor Deadline: Investors who purchased or acquired NEE securities during the Class Period may, no later than July 25, 2023, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation, please contact Berger Montague: James Maro at jmaro@bm.net or (267) 637-3176, or Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015 or visit: https://investigations.bergermontague.com/nextera-energy/.
NEE, based in Juno Beach, FL, is one of the largest power and utility holding companies in North America. NEE's primary subsidiary is Florida Power and Light Co. ("FPL"), the largest vertically integrated regulated utility in Florida.
Beginning in December 2021, media outlets, including the Orlando Sentinel and Miami Herald, began reporting that FPL and its political consulting firm, Matrix LLC, had orchestrated a range of improper political expenditures including potential violations of state and federal campaign finance laws. Specifically, reports alleged that FPL's political consultants used a network of nonprofits to surreptitiously steer funding to spoiler "ghost candidates" so as to derail the campaigns of unfriendly legislators seeking reelection to the Florida state legislature.
Throughout the Class Period, FPL denied the allegations in the media reports. For more than a year, FPL's executives and top corporate officers at NEE claimed that, based on the findings of an internal investigation, the alleged political misconduct orchestrated by FPL did not expose NEE to any meaningful legal or reputational risk.
However, on January 25, 2023, FPL President and CEO, Eric Silagy, abruptly resigned. On that same day, NEE filed a Form 8-K with the SEC that specifically acknowledged that FPL faced legal and reputational risks because of the allegations that FPL executives had orchestrated political misconduct. Following this news, NEE's stock dropped $7.31 per share, or about 8.7%.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Whistleblowers: Anyone with non-public information regarding NEE is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., San Diego, San Francisco, Chicago, and Toronto has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts:
James Maro, Senior Counsel
Berger Montague
(267) 637-3176
jmaro@bm.net
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169433
