SHAREHOLDER ALERT: Faruqi & Faruqi, LLP is Investigating the Board of Cole Real Estate Investments, Inc. for Potential Breaches of Fiduciary Duties in Connection to the Proposed Sale of the Company to American Realty Capital Properties, Inc.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cole Real Estate Investments, Inc.
NEW YORK, Nov. 4, 2013 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cole Real Estate Investments, Inc. ("Cole Real Estate" or the "Company") (NYSE: COLE) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to American Realty Capital Properties, Inc. (ARCP) in a cash or stock deal valued at approximately $11.2 billion. Under the terms of the proposed transaction, Cole Real Estate's stockholders will receive either $13.82 or 1.0929 shares of American Realty common stock for each share of Cole Real Estate common stock they own. The stock share offer is valued at $14.59 per Cole common share based on American Realty's closing price of $13.35 on October 22, 2013. The offer price only represents a premium of 13.8% based on Cole Real Estate's closing price of $12.82 on October 22, 2013.
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The investigation focuses on whether Cole Real Estate's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Cole Real Estate's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in Cole Real Estate Investments, Inc. and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/COLE or contact Juan E. Monteverde, Esq. either via e-mail at [email protected] or by telephone at (877) 247-4292 or (212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
[email protected]
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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SOURCE Faruqi & Faruqi, LLP
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