NextEra Energy reaches $15.5 million shareholder derivative settlement over alleged political influence scheme
NEE•NextEra Energy reached a $15.5 million settlement in shareholder derivative litigation over alleged political influence activity, subject to court approval. The deal includes governance changes for at least four years and a proposed $5.75 million in attorneys’ fees and expenses.
1. Settlement terms
The settlement calls for directors’ and officers’ insurers to pay $15.5 million to NextEra Energy, subject to court approval. It also requires at least four years of governance changes, including tighter board oversight of political contributions and compliance reporting; plaintiffs’ lawyers will seek $5.75 million in fees and expenses from the payment, pending a judge’s approval. Defendants denied wrongdoing or liability.
