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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lasalle Hotel Properties (delisted) | NYSE:LHO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 32.06 | 0 | 01:00:00 |
SAN DIEGO, Sept. 6, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of LaSalle Hotel Properties (NYSE: LHO) ("LaSalle ") breached their fiduciary duties in connection with the proposed sale of the Company to Pebblebrook Hotel Trust ("Pebblebrook").
On September 6, 2018, LaSalle announced that it had signed a definitive merger agreement with Pebblebrook. Under the terms of the agreement, for each LaSalle common share owned, each LaSalle shareholder will receive either a fixed amount of $37.80 in cash or a fixed exchange ratio of 0.92 Pebblebrook common share.
The investigation concerns whether the LaSalle board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for LaSalle shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration.
If you are a shareholder of LaSalle 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@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, 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 https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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View original content:http://www.prnewswire.com/news-releases/lasalle-alert-johnson-fistel-investigates-proposed-sale-of-lasalle-hotel-properties-300708170.html
SOURCE Johnson Fistel, LLP
Copyright 2018 PR Newswire
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