WILMINGTON, Del., July 7, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Gramercy Property Trust, Inc. (NYSE: GPT)?
- Did you purchase any of your shares prior to July 1, 2015?
- Do you think the proposed buyout value 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 Gramercy Property Trust, Inc. ("Gramercy" or the "Company") (NYSE: GPT) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Chambers Street Properties ("Chambers Street") (NYSE: CSG).
Click here to learn more: http://rigrodskylong.com/investigations/gramercy-property-trust-inc-gpt.
Under the terms of the agreement, shareholders of Gramercy will receive 3.1898 shares of Chambers Street for each share of Gramercy they own. Based on Chambers Street's closing price on June 30, 2015, Gramercy shareholders would have received compensation valued at approximately $25.36 per share.
The investigation concerns whether Gramercy's board of directors failed to adequately shop the Company and obtain the best possible value for Gramercy's shareholders before entering into an agreement with Chambers Street. According to Yahoo! Finance, at least one analyst has issued a price target for Gramercy stock at $34.00 per share.
If you own the common stock of Gramercy and purchased your shares before July 1, 2015, 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 D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://rigrodskylong.com/investigations/gramercy-property-trust-inc-gpt.
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.