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NextEra Falls as Executive Leaves After Campaign Cash Probe (1)

Jan. 25, 2023, 11:47 PM

NextEra Energy Inc. shares fell the most in nearly three years after the head of its Florida utility retired following an internal probe into whether the company violated campaign finance laws in the state.

Shares in the biggest US solar and wind company fell 8.8%, the biggest single-day drop since April 2020.

NextEra disclosed in a filing Wednesday that the company had finished a review into news reports that its Florida Power & Light unit may have violated state and federal campaign finance statutes. While NextEra said it found no evidence of wrongdoing, the departure of the unit’s top executive ...