JOHN STEWART et al. v. NEXTERA ENERGY, INC.

No. If you received a Notice it's because you are a member of a class action and your rights may be affected.  You may also be entitled to certain benefits.  Please read the notice for more information.

The Action alleges that the Defendant was a fiduciary to the Plan and violated fiduciary duties of prudence under ERISA that it owed to the Plan’s participants and beneficiaries. Plaintiff alleges that Defendant breached certain fiduciary duties by causing the Plan to incur higher administrative fees and expenses than reasonable and necessary. Plaintiff also alleges that Defendant breached certain fiduciary duties by using Plan forfeitures to offset Defendant’s matching contributions to the Plan before using Plan forfeitures to pay all Plan administrative expenses, in violation of the governing Plan language. In the operative Complaint, Plaintiff has asserted a cause of action for losses he contends were suffered by the Plan as the result of these alleged breaches of fiduciary duty by Defendant.

Defendant denies each and every allegation of wrongdoing made in any complaint filed in the action and contends that it has no liability in the Action. Defendant specifically denies the allegations that it breached any fiduciary duty or any other provisions of ERISA in connection with the administrative fees and expenses incurred by the Plan or its participants, the use of Plan forfeitures, or compliance with Plan language. Defendant further denies that it in any way failed to act prudently or loyally with respect to Plan or its participants and beneficiaries.

The Court has conditionally certified that this Settlement shall proceed on behalf of everyone who fits within the following description:

All persons who participated in the Plan at any time during the Class Period, including any Beneficiary of a deceased Person who participated in the Plan at any time during the Class Period, and any Alternate Payee of a Person subject to a QDRO who participated in the Plan at any time during the Class Period.

“Plan” means the NextEra Energy, Inc. Employee Retirement Savings Plan and each of its sub-plans, predecessor plans and/or successor plans, individually and collectively, and any trust created and attendant to all such plans.

“Class Period” means the period from September 25, 2017, through March 17, 2026.

The Settlement provides that Defendant will pay $8,000,000 (eight million dollars) (the “Gross Settlement Amount”) into an account at a financial institution identified by Class Counsel and/or the Settlement Administrator. The net amount of the Gross Settlement Amount, after payment of Court-approved attorneys’ fees and expenses, and any expenses incurred administrating the Settlement, will be allocated to the Members of the Settlement Class according to a Plan of Allocation to be approved by the Court if and when the Court enters an order finally approving the Settlement.

If you qualify, you will receive a pro rata share of the Net Settlement Amount. Class Counsel will file a detailed Plan of Allocation in advance of the Final Approval Hearing. The Plan of Allocation will describe the manner in which the Net Settlement Amount will be distributed to Members of the Settlement Class. In general terms, the Plan of Allocation will provide that each Settlement Class Member’s share of the Net Settlement Amount will be calculated as follows:

A. The Settlement Administrator will calculate an average account balance for each Settlement Class Member based on his or her total annual-ending account balance invested in the Plan for the Class Period.

B. The Settlement Administrator will sum the average account balances for all Settlement Class Members.

C. The Settlement Administrator will then determine the total settlement payment available to each Settlement Class Member by calculating each such person’s pro-rata share of the Net Settlement Amount based on his or her average account balance compared to the sum of the average account balances for all Settlement Class Members.

D. If the dollar amount of the settlement payment to a Settlement Class Member who is a Former Participant in the Plan (i.e., does not have an Active Account in the Plan) is calculated by the Settlement Administrator to be less than $25.00, then that Settlement Class Member’s payment or pro rata share shall be zero for all purposes. In addition, the Plan did not charge administrative fees or expenses to Plan participants whose individual accounts in the Plan had a balance of less than $5,000 during the Class Period. Settlement Class Members who did not pay any administrative fees or expenses during the Class Period Settlement payment or pro rata share shall be zero for all purposes.    

E. The Settlement Administrator’s calculations regarding settlement payments will be final and binding under the Court-approved Plan of Allocation.

If the Settlement is given final approval, you will not have to do anything to get a payment from the Settlement if you are entitled to one under the Plan of Allocation. If you have an Active Account in the Plan, the Settlement Administrator will cause your Settlement payment to be deposited into your Plan account. If you are a Former Plan Participant, the Settlement Administrator will cause your Settlement payment to be mailed to the same address where this Class Notice was mailed to you. 

You are welcome to come at your own expense. If you send an objection, you do not have to attend the Approval Hearing and voice your objection in person. As long as you mail your written objection on time, the Court will consider it when determining whether to approve the Settlement as fair, reasonable, and adequate. You also may pay your own lawyer to attend the Approval Hearing, but attendance is not necessary.

Please notify the Settlement Administrator of any changes in your mailing address so that future correspondence will be sent to the correct address. 

To update your mailing address, you can use the Update Address button at the top of this page. You will need your Notice ID and PIN. 

A different option is to contact the Settlement Administrator via email at [email protected]. Please put ‘Change of Address’ in the subject line and provide your full name, previous address, current address, and the Notice ID from your notice in the body of the email. Alternatively, you can mail that information to: Stewart v NextEra, c/o Settlement Administrator, PO Box 23459, Jacksonville, FL 32241.

A copy of your marriage license, divorce decree or court order is required for a name change.

You can submit the documentation via email at [email protected]. In your email, put ‘Name Change’ in the subject line. In the body of the email, provide the NoticeID, original name, and address of the Class Member on the Notice you received. Also provide the new name, address and phone number that you would like on future correspondence.

Alternatively, you can submit the required documents by mail to: Stewart v NextEra, c/o Settlement Administrator, PO Box 23459, Jacksonville, FL 32241.

Two documents are required for a name change for a deceased Class Member. They are: 1) A Copy of the death certificate, and 2) Documentation providing evidence to show the new payee as legal beneficiary – this could be a will, estate documentation, etc. The documentation will be reviewed when received.  We may reach out to you with additional questions, if necessary.

You can submit these documents via email at [email protected], put ‘Name Change’ in the subject line. In the body of the email, provide the Notice ID, original name and address of the Class Member on the Notice you received. Also provide the new name, address and phone number that you would like on future correspondence. 

Alternatively, you can submit the required documents by mail to: Stewart v NextEra, c/o Settlement Administrator, PO Box 23459, Jacksonville, FL 32241.

No. In some class actions, class members have the opportunity to exclude themselves from the Settlement. This is sometimes referred to as “opting out” of the Settlement. Because of the legal issues involved in the Action, however, the class of participants affected by this Settlement has been preliminarily certified as a mandatory class. This means you cannot opt out of the benefits of the Settlement in order to pursue your own claims or for any other reason. Therefore, you will be bound by any judgments or orders that are entered in this Action, and if the Settlement is approved, you will be deemed to have released Defendant from any and all claims that were or could have been asserted in this case on your behalf or on behalf of the Plan or that are otherwise included in the release in the Settlement, other than your right to obtain the relief provided to you, if any, by the Settlement.

Although you cannot opt out of the Settlement, you can object to the Settlement and ask the Court not to approve the Settlement, as described in FAQ question 11.

Anyone who objects to the Settlement, or any aspect of it, must submit a written objection to Class Counsel, c/o Brandon J. Hill, Wenzel Fenton Cabassa, P.A., 1110 N. Florida Avenue, Suite 300, Tampa, Florida 33602, postmarked no later than July 6, 2026, which includes the following information: a) the case name and number of this Lawsuit; b) the objector’s full name, current residential address, mailing address (if different from residential address), telephone number, and e-mail address; c) an explanation of the factual basis upon which the objector claims to be a Settlement Class Member; d) an explanation of the objection, including the legal and factual bases and copies of any documents supporting the objection; e) the name and address of each lawyer (if any) who is representing the objecting Settlement Class Member, or who may seek or claim entitlement to compensation for any reason in connection with the objection; f) a statement as to whether the objector intends to appear at the Final Approval Hearing either individually or through counsel; g) the full name, telephone number and address of all counsel (if any) who represent the objector, including any former or current counsel who may be entitled to compensation for any reason related to the objection to the Settlement Agreement; h) the identity of all counsel (if any) who will appear on behalf of the objector at the Approval Hearing; i) a list of all persons who will or may offer testimony in support of the objection; and j) the objector’s signature and date of signature. 

Any objection that is not timely submitted to Class Counsel will not be considered by the Court, absent a showing of good cause as determined by the Court. If the Court determines that good cause exists to allow an untimely objection, the Parties shall have an opportunity to respond to the objection.
 

Class Counsel may be reached at: Brandon J. Hill, Wenzel Fenton Cabassa, P.A., 1110 N. Florida Avenue, Suite 300, Tampa, Florida 33602; telephone: (813) 224-0431, email: [email protected]. You may also contact the Settlement Administrator by email at [email protected] or by phone at (800) 564-5820, or by mailing Stewart v NextEra, c/o Settlement Administrator, PO Box 23459, Jacksonville, FL 32241. Documents are also available at the office of the Clerk located at the Alto Lee Adams, Sr. United States Courthouse, 101 South U.S. Highway 1, Fort Pierce, Florida 34950.