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XIFR Class Action Notice: Robbins LLP Reminds XPLR Infrastructure LP (f/k/a NextEra Energy Partners, LP) Investors About the Opportunity to Lead the Class Action Against the Company
Prnewswireยท2025-07-16 00:16

Core Viewpoint - A class action has been filed against XPLR Infrastructure LP (formerly NextEra Energy Partners, LP) for allegedly misleading investors regarding its yieldco business model and financial stability [1][2]. Group 1: Company Overview - XPLR Infrastructure LP focuses on acquiring, owning, and managing contracted clean energy projects in the U.S., including wind, solar, and battery storage assets [1]. - The company changed its name from "NextEra Energy Partners, LP" to "XPLR Infrastructure, LP" in January 2025 [1]. Group 2: Allegations and Financial Issues - The complaint alleges that XPLR was struggling to maintain its operations as a yieldco and had entered into financing arrangements while downplaying associated risks [2]. - It is claimed that XPLR could not resolve its financing issues before maturity without risking significant unitholder dilution, leading to plans to halt cash distributions to investors [2]. - The sustainability of XPLR's yieldco business model and distribution growth rate is questioned due to these financial challenges [2]. Group 3: Impact of Business Model Change - On January 28, 2025, XPLR announced it was abandoning its yieldco business model and indefinitely suspending cash distributions to unitholders, shifting to a model utilizing retained operating cash flows for investments [3]. - Following this announcement, XPLR's common unit price fell from $15.80 on January 27, 2025, to $10.49 on January 29, 2025, marking a decline of $5.31 per unit, or nearly 35% [3]. Group 4: Legal Proceedings - Shareholders may be eligible to participate in the class action against XPLR, with a deadline to file as lead plaintiff by September 8, 2025 [4]. - A lead plaintiff represents other class members in directing the litigation, but participation is not required for recovery [4]. Group 5: Company Background - Robbins LLP is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses and improve corporate governance since 2002 [5].