NEW YORK, Nov. 16, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Taubman Centers, Inc. ("Taubman" or the "Company") (NYSE: TCO) in connection with the revised acquisition of the Company by Simon Property Group, Inc. ("Simon") (NYSE: SPG). Under the terms of the revised merger agreement, the Company's shareholders will receive only $43.00 in cash for each share of Taubman common stock that they own. The $43.00 merger consideration is a significant reduction from the $52.50 per share that the parties had originally agreed to in February 2020.
If you own Taubman shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact: Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw is investigating whether (i) the special committee of Taubman's board was truly independent and acted to maximize shareholder value in agreeing to the proposed transaction, (ii) the $43.00 per share merger consideration adequately compensates Taubman's shareholders, (iii) the special committee was fully informed as to the valuation of the proposed acquisition of the Company, and (iv) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. These issues are of particular concern given the reduction in the merger consideration from $52.50 per share to $43.00 per share.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]