NextEra Directors, Executives Sued Over ‘Political Misconduct’

The directors and executives of NextEra Energy Inc. allegedly engaged in “political misconduct” that opened the company up to reputational risk and litigation that hurt stock prices, a shareholder derivative suit says.

The shareholder alleges that the world’s largest utility company employed a network of nonprofits to secretly channel funds to “ghost candidates” and disrupt the 2020 election cycle, courted public officials with job offers, and spied on journalists who published unfavorable coverage of a subsidiary.

The company’s leadership allegedly denied the reputational and legal risk this misconduct exposed the company to, despite a stock drop and class action lawsuit ...