Brookfield Pays $84 Million to End $3 Billion TerraForm Case (1)

Brookfield Asset Management Inc. has agreed to pay $83.75 million to end shareholder litigation over its $3.3 billion acquisition of TerraForm Power Inc.

The alternative asset manager and the pension fund leading the case disclosed the amount March 6 in Delaware’s Chancery Court, where they filed notice of a settlement in principle last November. A judge in 2023 dismissed claims that Brookfield affiliates timed the take-private sale to exploit a stock exchange ratio warped by the pandemic-related market meltdown, but Delaware’s top court revived the case the next year, citing potential conflicts of interest among the deal’s architects.

That ruling ...