Shareholder Alert: Ademi & O'Reilly, LLP Investigates whether LaSalle Hotel Properties has obtained a Fair Price in its Sale to Blackstone

MILWAUKEE, May 21, 2018 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating the Board of Directors of LaSalle Hotel Properties (NYSE: LHO) for possible breaches of fiduciary duty and other violations of Maryland law in connection with the sale of LaSalle to Blackstone.

Click here to learn how to join the action: http://ademilaw.com/case/lasalle or call Guri Ademi toll-free at 866-264-3995.  There is no cost or obligation to you.

Ademi & O'Reilly, LLP alleges LaSalle's long-term financial outlook is improving and yet LaSalle shareholders will receive only $33.50 in cash for each share of LaSalle common stock they own.  Blackstone is well aware of LaSalle's improving financial metrics and is purchasing LaSalle at a substantial discount.  Indeed, Pebblebrook Hotel Trust has proposed to purchase LaSalle at a fixed exchange ratio of 0.9200 Pebblebrook common share for each LaSalle common share, with the option for LaSalle shareholders to elect to receive cash up to a maximum of 20% in the aggregate, or approximately $35.89, representing a premium of 7.1% over Blackstone's offer of $33.50.  The merger agreement unreasonably limits competing bids for LaSalle by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should LaSalle receive and accept a superior bid. LaSalle insiders, their affiliates and other major shareholders own significant voting stock, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of LaSalle. Our investigation centers on the conduct of LaSalle's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for LaSalle given its current financial condition and prospects.

If you own common stock in LaSalle and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or http://ademilaw.com/case/lasalle.           

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

SOURCE Ademi & O'Reilly, LLP

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