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NEE.US
id: 742

NextEra Energy (NEE) Investor Case on Misleading

S.D. Florida
Court
9:23-CV-80833
Case number
02 Dec 2021
Class period Start
01 Feb 2023
Class period End
25 Jul 2023
Lead Plaintiff motion deadline
  • NextEra Energy disclosed CEO's departure & FPL's improper political conduct.
  • $NEE lost $18.63 billion of its market capitalization.
  • Investors suspect NextEra & its Leaders of misleading which led to investment damages for shareholders.
On January 25, 2023, NEE disclosed that Eric Silagy would no longer serve as CEO of FPL as of February 15, 2023.

On January 31, 2023, NEE acknowledged to Bank of America analysts that Silagy’s severance package included a unique clawback 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. On this news, NEE’s stock dropped.

In total, over the course of the five trading days between January 25, 2023, when NEE announced Silagy’s abrupt departure and disclosed that FPL’s improper political conduct had exposed the Company to legal and reputational risks, and January 31, 2023, when NEE tacitly acknowledged the link between Silagy’s exit and the legal and reputational risks identified in the January 25, 2023 8-K, NEE’s stock plunged significantly wiping out $18.63 billion in market capitalization.

Taking all facts into account, Investors have reasons to suspect NextEra and its Leaders of misleading and failing to disclose important information to shareholders, specifically:
  1. FPL’s surreptitious orchestration of political misconduct exposed NEE to substantial legal and reputational risk; and
  2. Positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
01 February 2023
Filing date
26 May 223
Lead Plaintiff Deadline
25 July 2023
Collecting participants…

Nextera Energy Inc

NextEra Energy, Inc., through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity thr...

    Ticker
    NEE.US
    ISIN
    US65339F1012
    CIK
    753308
    Sector
    Utilities
    Industry
    Utilities - Regulated Electric
    Country
    USA
    Address
    700 Universe Boulevard, Juno Beach, FL, United States, 33408