BALA CYNWYD, PA / ACCESSWIRE / October 23, 2018 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors Select Income REIT ("Select Income" or "the Company") (SIR) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Government Properties Income Trust ("Government Properties").
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Under the terms of the transaction, Select Income shareholders will receive only 1.04 shares of Government Properties and a special dividend of 0.502 of a share of Industrial Logistics Property Trust, for each share of Select Income stock they own. The transaction values Select Income at only approximately $17.54 per share. The investigation concerns whether the Board of Select Income breached their fiduciary duties to shareholders and whether Government Properties is underpaying for the Company. The transaction may undervalue the Company and may not be in the Select Income shareholders best interests. For example, the transaction would result in a loss for many long-term holders of Select Income stock, which has traded at $30.78 per share. In addition, an analyst has placed a $28.00 per share price target on Select Income stock.
If you own shares of Select Income stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/select-income-reit-nasdaq-sir/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC