Riverstone Holdings LLC was sued in Delaware by former Pattern Energy Group Inc. shareholders claiming its $6.1 billion take-private buyout by Riverstone and Canada’s pension plan “was the product of a corrupt and conflicted sale process” that ripped off public investors.
The lawsuit also targets Pattern Energy Group Holdings 2 LP, PEGI’s former Riverstone-controlled “sister company,” which merged with it in March, following the buyout, to create a single enterprise controlled by Riverstone and the Canada Pension Plan Investment board.
The heavily redacted Chancery Court complaint accuses PEGI’s board of coordinating with Riverstone and nonparty financial adviser
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