NEW YORK, July 11, 2017 /PRNewswire/ -- The proposed
acquisition of Monogram Residential Trust, Inc. ("MORE" or the
"Company") (NYSE: MORE) by a newly formed perpetual life fund led
by Grey Real Estate Partners (the "Affiliates") is the subject of
an examination by WeissLaw LLP. On July 4, 2017, MORE announced it entered into an
agreement to be acquired by the Affiliates in a transaction valued
at approximately $3.0 billion.
Under the terms of the agreement, the Company's stockholders will
receive $12.00 in cash for each MORE
stock they own.
WeissLaw is investigating whether MORE's Board acted to maximize
stockholder value prior to entering into the agreement.
Notably, the Company recently announced positive financial
results. In May, MORE issued a press release reporting a
12.2% sequential increase in total proportionate NOI. The
Company also reported net income attributable to common
stockholders of $76.0 million, a
remarkable recovery from the net loss of $8.3 million MORE reported in the same period of
the previous year.
Given these facts, WeissLaw is investigating whether MORE's
Board acted in the best interests of MORE's public stockholders to
maximize stockholder value prior to entering into the
agreement. If you own MORE 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
stockinfo@weisslawllp.com.
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 stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/monogram-residential-trust-inc/
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SOURCE WeissLaw LLP