| COMPANY |
XPLR Infrastructure, LP FKA Nextera Energy Partners, LP |
| COURT |
United States District Court for the Southern District of California |
| CASE NUMBER |
3:25-cv-01755 |
| JUDGE |
The Hon. Janis L. Sammartino |
| CLASS PERIOD |
September 27, 2023 through January 27, 2025 |
| SECURITY TYPE |
Common Units |
LEAD PLAINTIFF DEADLINE IS SEPTEMBER 8, 2025.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
A class action lawsuit was filed on behalf of those who purchased or otherwise acquired XPLR Infrastructure (“XPLR”) (NASDAQ: XIFR) common stock between September 27, 2023, and January 27, 2025, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) XPLR was struggling to maintain its operations as a yieldco (i.e., a business that owns and operates fully-built and operational power generating projects, focused on delivering large cash distributions to investors); (2) Defendants temporarily relieved this issue by entering into certain financing arrangements while downplaying the risks; (3) XPLR could not resolve those financing arrangements before it maturity date without risking significant unitholder dilution; (4) as a result, Defendants planned to halt cash distributions to investors and instead redirect those funds to, among other things, resolve those financings; and (5) as a result of all the foregoing, XPLR's yieldco business model and distribution growth rate was unsustainable.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.