12:01 PM EDT, 08/12/2024 (MT Newswires) -- CenterPoint Energy ( CNP ) faces a probe for potential violations of Texas laws for its conduct during Hurricane Beryl, Ken Paxton, the state's attorney general, said Monday.

The investigation involves allegations of "fraud, waste, and improper use of taxpayer-provided funds," Paxton said in a statement. The company's conduct may have caused "significant harm" to Houston residents through outages, rate increases, and delays in restoring power" during the hurricane, Paxton said.

CenterPoint didn't immediately respond to a request for comment from MT Newswires.

The company's shares fell 2.4% in recent trading Monday.

Price: 25.83, Change: -0.64, Percent Change: -2.42