Federal judge (guess) rejects FPL 'ghost candidate' funding case

TALLAHASSEE — A federal judge has dismissed a securities-fraud lawsuit that alleged Florida Power & Light and its parent company made misleading statements about involvement in funding “ghost” candidates to influence elections.

U.S. District Judge Aileen Cannon on Friday issued a 16-page decision that rejected arguments by investors in the potential class-action lawsuit. In part, the plaintiffs contended that the stock price of NextEra Energy, FPL’s parent, plummeted in January 2023 after making disclosures that followed denials of wrongdoing.

Cannon wrote that she found plaintiffs “have failed to identify a corrective disclosure that reveals a truth that was previously concealed or obscured by defendants’ alleged fraud.”

The lawsuit was filed in June 2023 after a series of events stemming from media reports about allegations that FPL had funneled money through a political-consulting firm, Matrix LLC, and other organizations to improperly influence elections.




https://www.orlandosentinel.com/2024/09/30/federal-judge-rejects-fpl-ghost-candidate-funding-case/