Andrews & Springer LLC filed a stockholder class action complaint against NRG Yield, Inc.’s (“NRG Yield”) board of directors (the “Board”) in the Delaware Court of Chancery, Case No. 12742-CB. NRG Yield owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the United States, including fossil fuel, solar and wind power generation facilities that have the capacity to support more than two million American homes and businesses. NRG Energy, Inc. (“NRG Energy”) controls NRG Yield by controlling a majority of NRG Yield’s Class A and Class C shares.

The complaint alleges that NRG Yield’s Board breached their fiduciary duties by allowing the Company to enter into a self-interested stock recapitalization in May 2015 that created two new class of stock. The Complaint alleges that the stock recapitalization only benefitted NRG Energy and, as a result, harmed NRG Yield stockholders, leaving them with little to no consideration in return. 

Please click here for a copy of the Verified Class Action Complaint.