Tepper's Appaloosa calls for removal of SunEdison's TerraForm execs

March 30, 2016 9:49 PM

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Tepper's Appaloosa calls for removal of SunEdison's TerraForm execs

NEW YORK Billionaire David Tepper's Appaloosa Management is seeking to overhaul TerraForm Power Inc's (TERP.O) conflicts committee, claiming that the company's controlling shareholder SunEdison Inc (SUNE.N) has breached its fiduciary duties.

In an amended lawsuit filed on Tuesday in Delaware Chancery Court, Appaloosa said SunEdison and various TerraForm directors dismantled TerraForm's corporate governance and conflicts committee, replacing it with a "sham committee" to enable SunEdison to take advantage of TerraForm and stockholders "a...

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