NEW YORK, May 29, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of CapLease, Inc. ("CapLease" or the "Company") (NYSE: LSE) (ISIN: US1402881015) (CUSIP: 140288101) concerning the proposed acquisition of CapLease by American Realty Capital Properties, Inc. in a transaction valued at approximately $2.2 billion in cash.
The investigation concerns whether the CapLease directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, CapLease shareholders will be entitled to receive $8.50 in cash for each share of CapLease common stock, and each share of Series A, Series B and Series C preferred stock of CapLease will be converted into the right to receive the sum of $25.00 in cash plus an amount equal to any accrued and unpaid dividends up to but excluding the closing date of the merger. However, at least on analyst set a price target for CapLease common stock of $9.00 per share.
CapLease shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Arbitron Inc., Net1 Ueps Technologies, Inc., Universal Technical Institute, Inc., Telanetix, Inc., Somerset Hills Bancorp, BioClinica Inc., Conceptus, Inc., and Gardner Denver, Inc.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, 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 Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm 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.
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
212-661-1100 ext. 237
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP