The Law Firm of WeissLaw LLP Investigates American Realty Capital Trust, Inc.
07 Septiembre 2012 - 6:01PM
Business Wire
WeissLaw LLP, a national class action and shareholder rights
firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of American Realty
Capital Trust, Inc. (“ARCT”) (NasdaqGS: ARCT) arising from its
agreement for ARCT to be acquired by Realty Income Corporation
(NYSE: O) in a stock-for-stock transaction expected to close during
the fourth quarter of 2012 or early first quarter of 2013.
Under the terms of the deal, shareholders will receive a fixed
ratio of 0.2874 Realty Income shares for each ARCT share. Based on
ARCT’s and Realty Income’s respective closing prices on September
5, 2012, the last trading day before the deal was announced, the
transaction values ARCT at approximately $12.21 per share – thereby
providing ARCT shareholders with a mere 2% premium.
WeissLaw LLP is investigating whether ARCT’s Board acted in the
best interests of shareholders in approving this deal. ARCT’s Board
approved the deal merely six months after the Company’s IPO. Prior
to the deal’s announcement, at least two analysts following ARCT
had set the price target of the stock at $13.00 per share. Indeed,
ARCT stock hit a pre-deal high of $12.07 per share on
September 5, 2012.
If you own ARCT shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Julia J. Sun either by telephone
at (888) 593-4771 or by email at info@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
institutions and individuals and obtained important corporate
governance in 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
issuing materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at info@weisslawllp.com or fill out the form on our
website, http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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