WILMINGTON, Del., Oct. 29, 2013 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Cole Real Estate Investments, Inc. (NYSE: COLE)?
- Did you purchase any of your shares prior to October 23, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Cole Real Estate Investments, Inc. ("Cole" or the "Company") (NYSE: COLE) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by American Realty Capital Properties, Inc. ("ARCP") (NASDAQ GS: ARCP) in a transaction valued at approximately $11.2 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/cole-real-estate-investments-inc-cole.
Under the terms of the agreement, public shareholders of Cole may elect to receive 1.0929 shares of ARCP common stock, or $13.82 in cash for each share of Cole they own. Based on ARCP's closing stock price on October 22, 2013, Cole shareholders who elected to receive ARCP shares would have received consideration valued at approximately $14.59 per share.
The investigation concerns whether Cole's board of directors failed to adequately shop the Company and obtain the best possible value for Cole's shareholders before entering into an agreement with ARCP. A lawsuit has recently been in filed in Arizona federal court concerning the proposed transaction.
If you own the common stock of Cole and purchased your shares before October 23, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Gina Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/cole-real-estate-investments-inc-cole.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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SOURCE Rigrodsky & Long, P.A.