NEW YORK, April 27, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of La Quinta Holdings, Inc. ("La Quinta" or the "Company") (NYSE: LQ), concerning whether the board has breached its fiduciary duties to shareholders.
On July 29, 2015, the Company announced its financial results for the second quarter of 2015. The Company disclosed that its earnings had been negatively impacted by a $4 million loss on the sale of a property and an approximate $42 million impairment charge associated with the potential sale of numerous hotels.
On September 17, 2015, the Company disclosed that its Chief Executive Officer would step down.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own La Quinta shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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