Beginning in December 2021, media outlets, including the Orlando Sentinel and Miami Herald, began reporting that Florida Power and Light Co. (FPL), NextEra Energy's subsidiary, and its political consulting firm, Matrix LLC, had orchestrated a range of improper political expenditures including potential violations of state and federal campaign finance laws. Specifically, reports alleged that FPL’s political consultants used a network of nonprofits to surreptitiously steer funding to spoiler “ghost candidates” so as to derail the campaigns of unfriendly legislators seeking reelection to the Florida state legislature.

Throughout the Class Period, FPL denied the allegations in the media reports. For more than a year, FPL’s executives and top corporate officers at NEE claimed that, based on the findings of an internal investigation, the alleged political misconduct orchestrated by FPL did not expose NEE to any meaningful legal or reputational risk.

However, on January 25, 2023, FPL President and CEO, Eric Silagy, abruptly resigned. On that same day, NEE filed a Form 8-K with the SEC that specifically acknowledged that FPL faced legal and reputational risks because of the allegations that FPL executives had orchestrated political misconduct. Following this news, NEE’s stock dropped $7.31 per share, or about 8.7%.

Investors who purchased or acquired NextEra Energy securities between December 2, 2021, and February 1, 2023, may no later than July 25, 2023, seek to be appointed as a lead plaintiff representative of the class.