NEW YORK, March 11, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Xcel Energy Inc. (“Xcel” or the “Company”) (NASDAQ: XEL) on behalf of Xcel stockholders. Our investigation concerns whether Xcel has violated the federal securities laws and/or engaged in other unlawful business practices.
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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 shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
