The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of Florida on behalf of shareholders of XPLR Infrastructure, LP who purchased Securities between January 26, 2021 and January 27, 2025.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) XPLR was struggling to maintain its operations as a yieldco; (ii) defendants temporarily relieved this issue by entering into CEPF, convertible equity portfolio financing 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; (v) as a result of all the foregoing, XPLR’s yieldco business model and distribution growth rate was unsustainable; and (vi) as a result, defendants’ public statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 9, 2025 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
