NEW YORK, April 21, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of NRG Yield, Inc. ("NRG" or the "Company") (NYSE: NYLD), concerning whether the board has breached its fiduciary duties to shareholders.
On June 29, 2015, the Company conducted a Class C Common Stock Offering through which it raised approximately $600 million in new capital by selling 28.2 million shares at $22.00. In August 2015, the Company announced its second quarter 2015 earnings and disclosed poor results due to "historically low wind speeds" and stated that the resulting poor wind production would have an adverse impact on the Company's business.
NRG stock is currently trading at approximately $14.70, down significantly from the offering price of $22 per share
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own NRG shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP