SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Extended Stay America, Inc. (Nasdaq - STAY)
BALA CYNWYD, PA / ACCESSWIRE / March 15, 2021 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Extended Stay America, Inc. and its paired-share REIT, ESH Hospitality, Inc. ("ESA" or the "Company") (Nasdaq:STAY) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners ("Blackstone") and Starwood Capital Group ("Starwood Capital, and together with Blackstone, "Buyer"). Under the terms of the agreement, ESA shareholders will receive only $19.00 in cash for each paired share they own.
The investigation concerns whether the ESA Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Buyer is paying too little for the Company.
If you own shares of ESA 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 Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/extended-stay-america-inc-nasdaq-stay/, or call toll free 855-576-4847.
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
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