BRE Properties Inc Merger Litigation (NYSE: BRE)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of BRE Properties, Inc. - BRE
BALA CYNWYD, December 19, 2013 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of BRE Properties, Inc. (“BRE Properties” or the “Company”) (NYSE –BRE-News) relating to the proposed acquisition by Essex Property Trust, Inc. (“Essex”).
Under the terms of the transaction, BRE Properties shareholders will receive only 0.2971 newly-issued shares of Essex common stock plus $12.33 in cash for each share of BRE Properties stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of BRE Properties for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as BRE Properties stock traded at $59.34 as recently as December 6, 2013 and an analyst has set a $59.00 per share price target on BRE Properties stock.
If you own shares of BRE Properties common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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