SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of Gramercy Property Trust Inc. - GPT
NEW YORK, NY / ACCESSWIRE / July 22, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Gramercy Property Trust Inc. ("Gramercy Property" or the "Company") (GPT) (ISIN:US38489R6053) (CUSIP:38489R605) concerning the proposed acquisition of Gramercy Property by Chambers Street Properties.
Gramercy Property shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 9980.
The investigation concerns whether the Gramercy Property directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, Gramercy shareholders will receive 3.1898 shares of Chambers Street Properties for each share of Gramercy common stock they own.
The proposed transaction values Gramercy Property at approximately $25.36 per share. However, an analyst recently set a target price of $34.00 per share for Gramercy Property.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
SOURCE: Pomerantz, LLP
