NextEra Energy, the parent of Florida Power & Light, agreed to a $150 million settlement to resolve a class-action investor lawsuit. The company denies any wrongdoing in the agreement.
Two Florida pension funds led the legal action. They alleged leadership made misleading statements regarding several political controversies.
The claims involve a scheme to fund ghost candidates to influence state elections. Allegations also include the surveillance of a journalist and other improper political activities.
Investors sued after NextEra’s stock price dropped significantly following the revelation of these issues.
This represents one of the largest securities fraud settlements in the Southern District of Florida’s recent history. An appeals court revived the case after a district judge initially dismissed it. The settlement currently awaits court approval.