According to the Complaint, this action stems from a proposed transaction announced on March 7, 2017 (the "Proposed Transaction"), pursuant to which TerraForm Global, Inc. ("TerraForm" or the "Company") will be acquired by Orion US Holdings 1 L.P. ("Parent") and its wholly owned subsidiary, BRE GLBL Holdings Inc. ("Merger Sub"), which were formed by affiliates of Brookfield Asset Management Inc. ("BAM," and together with Parent and Merger Sub, "Brookfield").
On March 6, 2017, TerraForm's Board of Directors (the "Board" or "Individual Defenants") caused the Company to enter into an agreement and plan of merger (the "Merger Agreement") with Orion.
On October 10, 2017, defendants filed a proxy statement (the "Proxy Statement") with the United States Securities and Exchange commission ("SEC") in connection with the Proposed Transaction.
The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.
This case was voluntarily dismissed on June 25, 2018.