Brookfield Business Partners went from saviour to predator with its discounted offer to take Teekay Offshore private, shareholders allege in a lawsuit seeking to block the move.
Funds attached to JDP Capital Management, Noster Capital and Aquamarine Fund filed a suit in Manhattan federal court Friday, accusing Toronto-based Brookfield of trying to squeeze out shareholders after recapitalising the company in 2017 while the offshore player's board sat idly by.
