XPLR INFRASTRUCTURE INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
If you suffered substantial losses and wish to serve as lead plaintiff of the XPLR Infrastructure class action lawsuit, please provide your information here:
You can also contact attorneys J.C. Sanchez or of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].
CASE ALLEGATIONS: XPLR Infrastructure acquires, owns, and manages contracted clean energy projects. According to the complaint, throughout the Class Period, XPLR Infrastructure operated as a 'yieldco' – that is, a business that owns and operates fully built and operational power generating projects, focused on delivering large cash distributions to investors.
The XPLR Infrastructure class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) XPLR Infrastructure was struggling to maintain its operations as a yieldco; (ii) defendants temporarily relieved this issue by entering into convertible equity portfolio financing ('CEPF') arrangements while downplaying the attendant risks; (iii) XPLR Infrastructure could not buy out CEPFs before their maturity date without risking significant unitholder dilution; (iv) as a result, defendants planned to halt cash distributions to investors and instead redirect those funds to, among other things, buy out XPLR Infrastructure's CEPFs; and (v) as a result of the above, XPLR Infrastructure's yieldco business model and distribution growth rate was unsustainable.
The XPLR Infrastructure class action lawsuit alleges that on April 25, 2023, KeyBanc Capital Markets cut its recommendation on XPLR Infrastructure to sector weight from overweight, citing 'impending equity dilution in an unfavorable financial landscape.' On this news, XPLR Infrastructure's unit price fell more than 6%, according to the complaint.
Then, on September 27, 2023, the XPLR Infrastructure class action lawsuit further alleges that XPLR Infrastructure announced that it 'is revising its limited partner distribution per unit growth rate to 5% to 8% per year through at least 2026, with a target growth rate of 6%.' On this news, XPLR Infrastructure's unit price fell more than 20%, according to the complaint.
Thereafter, the complaint alleges that on November 9, 2023, Seaport Global Securities downgraded XPLR Infrastructure units to sell from neutral with a $15.50 price target, having determined that XPLR Infrastructure's revised cash distribution outlook was still likely too high. The XPLR Infrastructure class action lawsuit alleges that on this news, XPLR Infrastructure's unit price fell more than 11%.
Finally, on January 28, 2025, XPLR Infrastructure announced that it was abandoning its yieldco business model and indefinitely suspending its cash distribution to unitholders, stating it would redirect those funds to execute on several priorities, the first of which was to buy out its remaining CEPF obligation, the XPLR Infrastructure class action lawsuit alleges. On this news, XPLR Infrastructure's unit price fell more than 25%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired XPLR Infrastructure securities during the Class Period to seek appointment as lead plaintiff in the XPLR Infrastructure class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the XPLR Infrastructure class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the XPLR Infrastructure class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the XPLR Infrastructure class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
SOURCE: Robbins Geller Rudman & Dowd LLP
Copyright Business Wire 2025.
PUB: 03/13/2025 06:10 AM/DISC: 03/13/2025 06:10 AM
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