SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Inland Real Estate Corp. And Encourages ...
December 15 2015 - 4:16PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Inland Real Estate Corporation
(NYSE: IRC) (“Inland” or the “Company”) relating to the proposed
buyout of the Company by real estate funds managed by DRA Advisors
LLC, in a transaction valued at approximately $2.3 billion.
Under the terms of the agreement, Inland shareholders are
anticipated to receive $10.60 in cash for each share of Inland
common stock held. There are concerns regarding the price of the
deal and the process by which the price was agreed upon. For
example, according to Yahoo! Finance, at least one Wall Street
analyst has issued a price target for Inland stock at $12.00 per
share. Moreover, the stock traded above the offer price within
the past year.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of Inland and believe that the
proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, please
visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151215006803/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
Inland Real Estate (NYSE:IRC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Inland Real Estate (NYSE:IRC)
Historical Stock Chart
From Apr 2023 to Apr 2024