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Tripp Levy PLLC, a leading national securities law firm, announces an
investigation into the proposed acquisition of AMREP Corp. (NYSE: AXR).
On September 8, 2010, Nicholas Karabots, the Vice Chairman of AMREP and
owner of 60% of the outstanding shares of AMREP, offered to acquire the
remaining shares of AMREP that he does not already own for $12 per share
In addition, Mr. Karabots announced that certain other stockholders of
AMREP could participate in the transaction with him, and that he has no
interest in selling his interest in AMREP to anyone else.
The investigation concerns, among other things, whether the
consideration to be paid to AMREP shareholders is grossly unfair,
inadequate, and substantially below the fair or inherent value of AMREP.
Indeed, analysts have projected that AMREP’s true inherent value is in
excess of $15 per share. The investigation further concerns whether the
directors of AMREP may not be acting in AMREP shareholders' best
interests in connection with the sale process of AMREP.
If you own AMREP common stock and you wish to discuss this matter with
us, or have any questions concerning your rights and interests with
regard to this matter, please contact:
Tripp Levy PLLC
125 East 82nd Street
New York, New York
Toll Free: 877-772-3975
Tripp Levy PLLC is a national law firm that specializes in mergers &
acquisitions, takeover litigation, shareholder rights, and corporate
governance matters in state and federal courts throughout the United
Attorney advertising. Prior results do not guarantee a similar outcome.