MANAGEMENT BUYOUT - LAW FIRMS CHALLENGES UNFAIR PRICE
NEW YORK--(BUSINESS WIRE)-- Tripp Levy PLLC, a leading national securities law firm, is investigating the Board of Directors of NTS Realty Holdings Limited Partnership (“NTS” or the “Company”) (NYSE MKT: NLP) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed sale of the Company to its founder and Chairman, J.D. Nichols, and its CEO, Brian F. Lavin.
Under the terms of the proposed transaction, NTS shareholders would receive $7.30 for each share of NTS they own. This is Nichols and Lavin’s second going private proposal—NTS rejected the original offer of $5.25 per share on November 16, 2012. The investigation concerns, among other things, whether the Board is acting in shareholders best interest and whether the Board is engaging in meaningful discussion with Nichols and Lavin concerning the offers.
If you own common stock in NTS and wish to obtain additional information, please contact us toll-free: 877-772-3975 or email at contact @ tripplevy