Morgan & Morgan Announces the Investigation of Cole Real Estate Investments, Inc.
NEW YORK, Oct. 24, 2013 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential legal claims against the board of directors of Cole Real Estate Investments, Inc. ("Cole" or the "Company") (COLE) regarding possible breaches of fiduciary duty and other violations of law related to the Company's entry into an agreement to be acquired by American Realty Capital Properties, Inc. ("American Realty") in a transaction, including debt, valued at approximately $11.2 billion.
Under the terms of the proposal, public shareholders of Cole will receive $13.82 or 1.0929 shares of American Realty common stock for each share of Cole common stock they own.
Our investigation concerns possible breaches of fiduciary duty and other violations of law by Cole's Board of Directors for not acting in the best interest of the Company's shareholders' in connection with the sale process.
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Morgan & Morgan
Peter Safirstein, Esq.
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New York, NY 10036
SOURCE Morgan & Morgan