NEW YORK, June 15, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of NextEra Energy, Inc. ("NextEra" or the "Company") (NYSE: NEE). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether NextEra and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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Beginning in December 2021, media outlets, including the Orlando Sentinel and Miami Herald, began reporting that NEE's primary subsidiary, Florida Power and Light Co. ("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. After more than a year of blanket denials, FPL's President and Chief Executive Officer Eric Silagy abruptly resigned on January 25, 2023. That same day, NEE filed a Form 8-K with the SEC which specifically acknowledged that FPL faced legal and reputational risks because of the allegations that FPL executives had orchestrated political misconduct. On this news, NEE's stock price fell $7.31 per share, or approximately 8.7%.
Then, on January 31, 2023, NEE acknowledged to Bank of America analysts that Silagy's severance package included a unique claw back provision in case the Company needed to be compensated by Silagy for costs associated with "any legal wrongdoing"—tacitly acknowledging the link between Silagy's conduct and the legal and reputational risk described in the January 25th 8-K.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
