NextEra, Shareholders Eye June 15 Settlement in Political Activities Lawsuit
Updated
Updated · The New York Times · May 29
NextEra, Shareholders Eye June 15 Settlement in Political Activities Lawsuit
1 articles · Updated · The New York Times · May 29
June 15 is the target date for NextEra Energy and shareholders to submit a settlement for court approval in a federal lawsuit over the company’s political activities.
The 2023 suit alleged those activities exposed investors to risk and helped trigger a sharp stock-price drop, while also raising questions about whether executives were candid about the conduct.
Court filings and public documents tied the dispute to claims that NextEra or its consultants may have violated election laws, spied on journalists and used questionable tactics in pursuing a city-owned utility.
NextEra has said two internal reviews found no unlawful conduct, but the case revived after a federal appeals court reinstated it in November following a district court dismissal.
The settlement effort comes as NextEra seeks to acquire Dominion Energy, a deal that would make it the nation’s largest utility and power company.
With a history of lawsuits, can NextEra be trusted to manage the nation's largest utility and lower customer bills?
Is NextEra's $67 billion mega-merger the right way to power America's AI boom, or a risky consolidation of power?