NextEra Energy Inc. and its top executives aren’t liable for alleged reputational risks and subsequent stock drops stemming from the company’s political dealings, they said in a motion to dismiss.
Shareholders alleged in May that world’s largest utility company engaged in “political misconduct,” employing a network of nonprofits to secretly channel funds to “ghost candidates” in the 2020 election cycle. The legal violations stemming from that misconduct and news coverage of it exposed the company and a local subsidiary to reputational risks, which in turn harmed investors, the complaint says.
The proposed class action complaint didn’t show that NextEra or ...
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