Shareholder Alert: Ademi LLP investigates whether Life Storage, Inc. has obtained a Fair Price in its transaction with Extra Space

MILWAUKEE, April 3, 2023 /PRNewswire/ -- Ademi LLP is investigating Life Storage (NYSE: LSI) for possible breaches of fiduciary duty and other violations of law in its transaction with Extra Space. 

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

Ademi LLP alleges Life Storage's financial outlook and prospects are excellent and yet Life Storage's shareholders are expected to receive only 0.8950 of an Extra Space share for each Life Storage share they own, representing a total consideration of approximately $145.82 per share based on Extra Space's share price close on March 31, 2023. At closing, Extra Space and Life Storage shareholders are expected to own approximately 65% and 35% of the combined company, respectively. The transaction agreement unreasonably limits competing bids for Life Storage by imposing a significant penalty if Life Storage accepts a superior bid. Life Storage insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Life Storage's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Life Storage.

If you own Life Storage common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or https://www.ademilaw.com/case/life-storage-inc.                       

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 LLP                                                                                        
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

SOURCE Ademi LLP