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Associated Press
14-03-2025
- Business
- Associated Press
XPLR Infrastructure LP (f/ka/ NextEra Energy Partners, LP) Stockholders: Robbins LLP Reminds XIFR Shareholders of the Pending Class Action Lawsuit
SAN DIEGO, March 14, 2025 (GLOBE NEWSWIRE) -- Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired XPLR Infrastructure LP (NYSE: XIFR) securities between January 26, 2021 and January 27, 2025. XPLR acquires, owns, and manages contracted clean energy projects in the U.S., including a portfolio of contracted renewable generation assets consisting of wind, solar, and battery storage projects. The Company changed its name from 'NextEra Energy Partners, LP' to 'XPLR Infrastructure, LP' in January 2025. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that XPLR Infrastructure, LP (XIFR) Misled Investors Regarding its Yieldco Business Model According to the complaint, during the class period, defendants failed to disclose to investors that: (i) XPLR was struggling to maintain its operations as a yieldco; (ii) defendants temporarily relieved this issue by entering into CEPF arrangements while downplaying the attendant risks; (iii) XPLR 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, inter alia, buy out the Company's CEPFs; and (v) as a result of all the foregoing, XPLR's yieldco business model and distribution growth rate was unsustainable. The truth slowly began to reveal itself beginning on April 25, 2023. With each disclosure, the price of XPLR's stock declined. The complaint alleges that on January 28, 2025, XPLR announced it was abandoning its yieldco business 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 obligations. The Company also revealed it had appointed a new CEO. Following these disclosures, XPLR's unit price fell $3.97 per unit, or 25.13%, to close at $11.83 per unit on January 28, 2025. XPLR's unit price continued to fall an additional $1.39 per unit, or 11.75%, over the following two consecutive trading sessions, to close at $10.44 per unit on January 30, 2025. What Now: You may be eligible to participate in the class action against XPLR Infrastructure, LP. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by May 9, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against XPLR Infrastructure, LP or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome.
Associated Press
13-03-2025
- Business
- Associated Press
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
The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP (NYSE: XIFR; NEP) securities between January 26, 2021 and January 27, 2025, both dates inclusive (the 'Class Period'), have until May 9, 2025 to seek appointment as lead plaintiff of the XPLR Infrastructure class action lawsuit. Captioned Jarvis v. XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP, No. 25-cv-80334 (S.D. Fla.), the XPLR Infrastructure class action lawsuit charges XPLR Infrastructure and certain of XPLR Infrastructure's top current and former executives with violations of the Securities Exchange Act of 1934. 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
Yahoo
28-01-2025
- Business
- Yahoo
XPLR Infrastructure shares tank on distribution suspension
By Tanay Dhumal (Reuters) - XPLR Infrastructure said on Tuesday it will suspend its distribution to unitholders for an indefinite period, sending the company's shares down 30%. The move comes as XPLR looks to reinvest most of its cash flow to fund its renewable energy investments. Earlier it was focused on raising capital to acquire assets and distributing most of its excess cash flows to shareholders. "The changes we are announcing today are intended to eliminate the need to issue equity," said Chairman John Ketchum. XPLR is a limited partnership, in which U.S. utility NextEra Energy has a majority holding, and works to acquire, manage and own contracted energy projects. XPLR also plans to use cash on hand to buy out three of its five convertible equity portfolio financings (CEPF), which refers to a portfolio of loans that can be converted to equity. It plans to sell the assets of the other two to fund their buyout. "We are encouraged by the amount of detail and disclosure provided in the update around the company's CEPF obligations and liquidity position, though we expect the (distribution) suspension to result in a shakeout of the investor base," analysts said in note. The company plans to invest about $945 million in 2025, $150 million in 2026 and $465 million in 2027 for the CEPF buyout, without issuing new equity. Juno Beach, Florida-based XPLR, which was renamed from NextEra Energy Partners last week, named Alan Liu, a NextEra executive, as CEO of the firm. Separately, NextEra Energy, reaffirmed its long-term financial expectations and added that its funding plan from 2024-2027 remains unchanged. Sign in to access your portfolio
