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SHAREHOLDER ALERT: WeissLaw LLP Investigates Condor Hospitality Trust, Inc.

NEW YORK, July 22, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Condor Hospitality Trust, Inc. ("CDOR" or the "Company") (CDOR) in connection with the proposed acquisition of the Company by Toronto-based NextPoint Hospitality Trust ("NextPoint"). Under the terms of the agreement, CDOR shareholders will receive $11.10 in cash for each CDOR share they own. 

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

If you own CDOR shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:

Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771

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WeissLaw is investigating whether CDOR's Board acted to maximize shareholder value prior to entering into the merger agreement. Notably, the per-share offer price is approximately $2.00 less than the analyst target price of $13.00. In addition, CDOR shares traded for $11.32, or $0.22 above the per-share offer price, as recently as October of last year. 

Moreover, the deal is a strategic transaction which will:

  • Increase NextPoint's presence in Florida and Texas;
  • Expand NextPoint's geographic footprint in Georgia, Kansas, Kentucky, Maryland, Mississippi, and South Carolina; and
  • Increase NextPoint's gross asset value to approximately $700 million at the close of the transaction.

Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances CDOR's shareholder value. Specifically, WeissLaw is concerned whether CDOR's Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com


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