IRC ALERT: Shareholder Rights Law Firm Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of Inland Real ...
December 15 2015 - 8:27AM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of Inland
Real Estate Corporation (NYSE: IRC) breached their fiduciary duties
in connection with the proposed sale of the Company to DRA Advisors
LLC.
Additional Information:IRC is a real estate investment trust
(REIT) that engages in the ownership, operation and development of
shopping centers and single-tenant retail properties.
On December 15, 2015 IRC announced that it had signed a
definitive merger agreement with DRA. Under the terms of the
agreement, DRA will acquire all issued and outstanding common stock
of IRC for $10.60 per share in cash.
The investigation concerns whether the IRC board is acting in
the shareholders’ best interests, including whether the board
adequately pursued alternatives to the acquisition and whether the
board obtained the best price possible for the Company’s shares of
common stock. Nationally recognized Johnson & Weaver is
investigating whether the proposed deal price represents adequate
consideration, especially since one Wall Street analyst has a
$12.00 price target on the stock which is more than the $10.60
offer price. Earlier this year IRC stock traded over $11.70 per
share.
If you are a shareholder of IRC and believe the
proposed buyout price is too low or you’re interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20151215005973/en/
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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