NextEra Energy Investors Urge Revival of Political Meddling Suit

NextEra Energy Inc.'s failure to disclose reputational and legal risks from a scheme to undermine political opponents was “corrected” by later disclosures affecting the market’s understanding of those risks, investors told the Eleventh Circuit.

The district court was wrong to dismiss the proposed class action for not showing the disclosures caused their losses in the stock routs that followed, the investors said in a brief to the US Court of Appeals for the Eleventh Circuit. And NextEra misframed the issue as about proof of wrongdoing rather than risk exposure, they said.

Shareholders alleged that NextEra’s subsidiary Florida Power & ...