Recent Securities Litigations
TerraForm Power, Inc. (NASDAQ: TERP)
According to the Complaint, on March 16, 2020, TerraForm Power, Inc.’s (“TerraForm” or the “Company”) Board of Directors caused TerraForm to enter into an agreement and plan of reorganization with Brookfield Renewable Partners L.P., Brookfield Renewable Corporation, 2252876 Alberta ULC, and TerraForm Power NY Holdings, Inc.
On June 30, 2020, Defendants filed a proxy statement/prospectus (the “Prospectus”) with the United States Securities and Exchange Commission (the “SEC”), which recommends that TerraForm’s stockholders vote to approve the Proposed Transaction at a special meeting of stockholders scheduled for July 29, 2020.
The Complaint alleges the Prospectus omits material information with respect to the Proposed Transaction, which renders the Prospectus false and misleading.