Xcel Energy, Inc. (NASDAQ: XEL)

This investigation is for anyone who acquired securities in Xcel Energy, Inc. (NASDAQ: XEL) prior to March 7, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company maintained proper safety standards on its power lines when the Company lacked proper safety controls.

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, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on March 7, 2024, Xcel disclosed 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 of land and an estimated 500 buildings. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Xcel Energy, Inc. (NASDAQ: XEL) prior to March 7, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.