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& Long, P.A. announces that it is investigating potential claims
against the board of directors of AMREP Corporation (“AMREP” or the
concerning the Company’s receipt of a proposal from Nicholas G.
Karabots, the Company’s Vice Chairman of the Board, for a going private
transaction (the “Proposal”). Click here to learn how to join the
The investigation concerns whether AMREP’s board of directors is
adequately shopping the Company and working to obtain the best price
possible for AMREP’s shareholders. The Proposal contemplates the
acquisition of all of the outstanding shares of common stock of AMREP
not currently owned by Mr. Karabots for $12.00 per share in cash. Mr.
Karabots already owns approximately 60% of the Company’s outstanding
shares. In addition, the Proposal indicates that certain other
stockholders of AMREP could participate in the transaction with Mr.
Karabots. Moreover, Mr. Karabots has indicated that he is not interested
in selling his interest in AMREP to anyone else.
If you own the common stock of AMREP and purchased your shares before
September 8, 2010, if you have information or would like to learn more
about these claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Seth
D. Rigrodsky, Esquire or Noah
R. Wortman, Case Development Director, of Rigrodsky & Long, P.A.,
919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at
(888) 969-4242, or by e-mail to firstname.lastname@example.org.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden
City, New York, regularly litigates securities class, derivative and
direct actions, shareholder rights litigation and corporate governance
litigation, including claims for breach of fiduciary duty and proxy
violations in the Delaware Court of Chancery and in state and federal
courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.