NEW YORK, Jan. 23, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Spirit Realty Capital, Inc. ("Spirit Realty" or the "Company") (NYSE :SRC ) (ISIN: US84860F1093) (CUSIP: 84860F109) concerning the proposed acquisition of Spirit Realty by Cole Credit Property Trust II ("CCPT II") in a transaction with a pro forma enterprise value of approximately $7.1 billion.
The investigation concerns whether the Spirit Realty directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. However, prior to the announcement of the proposed merger, Spirit Realty Capital's share price had increased by 19% since the company went public on September 19, 2012.
Under the terms of the agreement, Spirit Realty shareholders will be entitled to receive a fixed exchange ratio of 1.9048 CCPT II shares for each share of Spirit Realty common stock owned.
Spirit Realty shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Universal Technical Institute, and Ameristar Casinos, Inc. K-Swiss, Inc., Neptune Technologies Bioressources, Inc. Telanetix, Inc.
The Pomerantz Firm, with offices in New York, Chicago 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.
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP