NEW YORK, June 22, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Home Properties, Inc. ("Home Properties" or the "Company") (NYSE: HME) (ISIN: US4373061039) (CUSIP: 437306103) concerning the proposed acquisition of Home Properties by an affiliate of the Lone Star Funds.
Home Properties 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. 9980.
The investigation concerns whether the Home Properties directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, Home Properties shareholders will receive $75.23 per share in cash for each share of Home Properties common stock. However, an analyst recently set a price target for Home Properties at $78 a share. Moreover, the EBITDA, EBIT, Revenue, and Book Value multiples are below the averages of comparable transactions, according to a Bloomberg analysis.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, 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 LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP 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.
212-661-1100 ext. 9980
SOURCE Pomerantz LLP