Ryan & Maniskas, LLP Announces Investigation of MPG Office Trust, Inc. on Behalf of MPG Preferred Shareholders
WAYNE, Pa., May 15, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/mpg) is investigating potential claims against the board of directors of MPG Office Trust, Inc. ("MPG" or the "Company") (NYSE: MPG, MPG-PA) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to a newly formed fund controlled by Brookfield Office Properties Inc. in an all-cash deal valued at about $2 billion.
Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of MPG. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/mpg.
Under the terms of the proposed transaction, MPG's stockholders will receive $3.15 in cash for each share of MPG common stock they own.
The agreement also provides that DTLA Holdings will commence a tender offer to purchase all of MPG's preferred shares for $25.00 per share in cash. Alternatively, instead of tendering, MPG preferred shareholders may opt to have their MPG preferred shares converted into new preferred shares of another entity controlled by BPO, DTLA Fund Office Trust Investor Inc. (DTLA Fund), with rights, terms and conditions substantially identical to those of MPG's preferred shares.
However, if 66.6% or more of the MPG preferred shares are tendered, then DTLA Holdings will have the right to convert all remaining MPG preferred shares into cash at the price of $25.00 per preferred share without the consent of such MPG preferred shareholders.
If you own shares of MPG and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/mpg. You may also email Mr. Maniskas at email@example.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
SOURCE Ryan & Maniskas, LLP