SAN DIEGO, May 12, 2020 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of TerraForm Power, Inc. ("TerraForm
Power" or the "Company") (NASDAQ: TERP) breached their fiduciary
duties in connection with the proposed sale of the Company to
Brookfield Renewable Partners ("Brookfield Renewable") (NYSE: BEP).
On March 16, 2020, TerraForm
Power announced that they had entered into a definitive merger
agreement for Brookfield Renewable to acquire all of the
outstanding shares of Class A common stock of TerraForm Power,
other than the approximately 62% currently owned by Brookfield
Renewable and its affiliates. Under the terms of the
acquisition agreement, TerraForm Power's shareholders will receive
0.36 Brookfield Renewable shares for each share of TerraForm Power
they own.
The investigation concerns whether the TerraForm Power board
failed to satisfy its duties to the Company shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for TerraForm Power shares of common stock.
If you are a shareholder of TerraForm Power and
believe the proposed buyout price is too low or you're interested
in learning more about the investigation, please contact lead
analyst Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
Additionally, you can [Click here to join this
action]. There is no cost or obligation to
you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP