NEW YORK, Dec. 3, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of American Residential Properties, Inc. ("American Residential" or the "Company") (NYSE: ARPI) (ISIN: US02927E3036) (CUSIP: 02927E303) concerning the proposed acquisition of American Residential by American Homes 4 Rent.
American Residential shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at email@example.com or 212-661-1100 or 888-476-6529, ext. 9980.
The investigation concerns whether the American Residential directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, at closing, each share of American Residential Properties common stock and each limited partnership unit in its operating partnership will be exchanged for 1.135 common shares or limited partnership units of American Homes 4 Rent, representing a current value per share/unit of American Residential Properties of $19.01 based on American Homes 4 Rent closing price on December 2, 2015. However, an analyst recently set a price target of $22.50 per share for American Residential. Additionally, the Book Value is below the average of comparable transactions, according to a Bloomberg analysis.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT: Robert Willoughby Pomerantz LLP 212-661-1100 ext. 9980 firstname.lastname@example.org
SOURCE Pomerantz LLP