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SHAREHOLDER ALERT: WeissLaw LLP Investigates TerraForm Power, Inc.

NEW YORK, Jan. 14, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of TerraForm Power, Inc. ("TerraForm Power" or the "Company") (NASDAQ: TERP) in connection with the proposed acquisition of the Company by Brookfield Renewable Partners ("Brookfield Renewable") (NYSE: BEP).  Brookfield Renewable and its affiliates already own 62% of TerraForm.  Under the terms of the acquisition agreement, TerraForm Power's shareholders will receive 0.36 BEP shares for each share of TERP they own. 

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

If you own TERP shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

 https://weisslawllp.com/terraform-power-inc-investigation/

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

WeissLaw is investigating whether TerraForm Power's Board acted to maximize shareholder value prior to entering into the acquisition agreement.  Notably, the transaction, which values the Company at $17.31 per share, offers TERP shareholders a meager 11% premium over the Company's January 10th closing price of $15.60 and is 6% less than its 52-week high of $18.48.

Additionally, the deal is a strategic transaction which Brookfield Renewable seeks to leverage to increase its global footprint and its market positioning.  According to Brookfield Renewable's CEO Sachin Shah, the acquisition "is expected to be immediately accretive and further expands our portfolio in North America and Western Europe, all while delivering returns in-line with our targets. Further, the proposed transaction will enhance the liquidity of [Brookfield Renewable shares]'s." 

Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

Cision

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SOURCE WeissLaw LLP