IRA TRUST FBO BOBBIE AHMED v. CRANE

C.A. No. 12742-CB.

IRA TRUST FBO BOBBIE AHMED, on behalf of similarly situated Class A stockholders of NRG YIELD, INC., Plaintiff, v. DAVID CRANE, JOHN F. CHLEBOWSKI, MAURICIO GUTIERREZ, KIRKLAND B. ANDREWS, BRIAN R. FORD, FERRELL P. MCCLEAN, CHRISTOPHER S. SOTOS and NRG ENERGY, INC., Defendants.

Court of Chancery of Delaware.

Decided: December 11, 2017.

Revised: January 26, 2018.


Attorney(s) appearing for the Case

Peter B. Andrews , Craig J. Springer & David M. Sborz of ANDREWS & SPRINGER LLC, Wilmington, Delaware; Jeremy S. Friedman , Spencer Oster & David Tejtel of FRIEDMAN OSTER & TEJTEL PLLC, New York, New York; Jason M. Leviton & Joel Fleming of BLOCK & LEVITON LLP, Boston, Massachusetts; Counsel for Plaintiff.

William M. Lafferty & D. McKinley Measley of MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Counsel for Defendants John F. Chlebowski, Brian R. Ford, and Ferrell P. McClean.

Brian C. Ralston , Andrew H. Sauder & Mathew A. Golden of POTTER ANDERSON & CORROON LLP, Wilmington, Delaware; Counsel for Defendants David Crane, Mauricio Gutierrez, Kirkland B. Andrews, Christopher S. Sotos, and NRG Energy, Inc.


OPINION

This action arises out of a reclassification of the shares of NRG Yield, Inc. ("Yield" or the "Company") that went into effect in May 2015. Yield's business model is to own a portfolio of income-producing energy generation and infrastructure assets from which dividends can be distributed to public stockholders—...

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