PR Newswire
NEW YORK, May 7, 2018
NEW YORK, May 7, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Gramercy Property Trust ("GPT" or the "Company") (NYSE: GPT) in connection with the proposed acquisition of the Company by affiliates of Blackstone Real Estate Partners VIII (the "Affiliates"). Under the terms of the acquisition agreement GPT shareholders will receive $27.50 in cash for each share they own.
WeissLaw is investigating whether GPT's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $33.00 per share, or $5.50 above the offer price. Additionally, in its latest financial release, the Company recognized total revenues of approximately $149.5 million, reflecting an annual increase of 15% when compared to the figures reported in the period of the previous year.
Given these facts, WeissLaw is investigating whether GPT's Board acted in the best interests of GPT's public shareholders to maximize shareholder value prior to entering into the agreement. If you own GPT shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].
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] or fill out the form on our website, http://www.weisslawllp.com/gramercy-property-trust/
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SOURCE WeissLaw LLP
