Clearway Energy Inc. is planning to adopt a novel capital structure that would hand perpetual control of the renewable energy business to a
A Teamsters fund sued Clearway on Monday in Delaware’s Chancery Court, challenging a proposed stock reshuffling that would allegedly reduce the influence of public shareholders 100-fold while cementing the control enjoyed by a major financial backer, a partnership between BlackRock and TotalEnergies SE. That entity, Clearway Energy Group LLC, is also named as a defendant.
Publicly traded Class A shares would ...