Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Xcel Energy Inc. (XEL)
Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Xcel Energy Inc. (XEL)
The law firm of Kirby McInerney LLP is investigating potential claims against Xcel Energy Inc. (“Xcel” or the “Company”) (NASDAQ:XEL). The investigation concerns whether Xcel and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
[Click here to learn more about the investigation]
On February 29, 2024, Xcel disclosed that it had become aware of Texas wildland fires burning near the service territory of Southwestern Public Service Company (“SPS”) on February 26, and that, on February 28, the Company had received a letter “on behalf of various property insurance interests whose insureds were allegedly adversely affected by the [fire],” notifying the Company of “potential exposure for damages resulting from the [fire] and to request that a fallen SPS utility pole that is situated within the vicinity of the fire’s potential area of origin be preserved.” On this news, Xcel’s stock price fell $8.10, or 14%, over two consecutive trading days to close at $49.57 per share on March 1, 2024, thereby injuring investors.
On March 7, 2024, Xcel acknowledged that its equipment was likely “involved in an ignition” of the wildfire, which has grown to the largest wildfire in Texas history, burning over a million acres and an estimated 500 structures.
If you purchased or otherwise acquired Xcel securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240308425900/en/
-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now