SAN DIEGO, CA / ACCESSWIRE / February 25, 2020 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Pattern Energy Group Inc. (NASDAQ:PEGI) shares in connection with proposed takeover of Pattern Energy Group Inc. by Canada Pension Plan Investment Board.
Investors, who purchased shares of Pattern Energy Group Inc. (NASDAQ:PEGI), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On November 4, 2019, Pattern Energy Group Inc announced that it had entered into an agreement to be acquired by Canada Pension Plan Investment Board at a price of $26.75 per share in cash.
However, the plaintiff alleges that the defendants violated Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 by causing a materially incomplete and misleading preliminary proxy statement to be filed with the United States Securities and Exchange Commission on December 13, 2019.
Among other things, the plaintiff also alleges that the proposed transaction is riddled with conflicts of interest given Pattern Energy Group's relationship with Pattern Energy Group 2 LP and Riverstone Pattern Energy Holdings II, L.P, that the Board of Directors of Pattern Energy Group Inc has also voted in favor of a proposal for lucrative compensation to Pattern Energy Group's executive officers.
Those who purchased Pattern Energy Group Inc. (NASDAQ:PEGI) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.