STEVENSON, Md., July 8, 2015 /PRNewswire/ -- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Gramercy Property Trust, Inc. ("Gramercy" or the "Company") (NYSE: GPT) relating to the proposed buyout of the Company by Chambers Street Properties.
Under the terms of the transaction, Gramercy shareholders are anticipated to 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 transaction may undervalue Gramercy and may result in a substantial loss for many shareholders. For example, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for Gramercy stock at $34.00 per share.
The firm's investigation seeks to determine, among other things, whether the Company's Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company's shares of common stock.
If you currently own common stock of Gramercy and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 email@example.com
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