An investigation on behalf of investors of Associated Estates Realty Corporation (NYSE:AEC) in connection with the proposed takeover was announced and NYSE:AEC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/28/2015 -- An investigation on behalf of investors, who currently hold shares of Associated Estates Realty Corporation (NYSE:AEC), was announced concerning whether the takeover of Associated Estates Realty Corporation by a real estate fund managed by Brookfield Asset Management is unfair to NYSE:AEC stockholders.
Investors who purchased shares of Associated Estates Realty Corporation (NYSE:AEC) and currently hold any of those NYSE:AEC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554..
The investigation by a law firm concerns whether certain officers and directors of Associated Estates Realty Corporation breached their fiduciary duties owed to NYSE:AEC investors in connection with the proposed acquisition.
On April 22, 2015, Associated Estates Realty Corporation (NYSE:AEC) announced its Board of Directors has approved a merger agreement under which a real estate fund managed by Brookfield Asset Management will acquire all outstanding shares of common stock of Associated Estates Realty Corporation (NYSE:AEC) for $28.75 per share in cash.
However, the investigation concerns whether the offer is unfair to NYSE:AEC stockholders. More specifically, the investigation concerns whether the Associated Estates Realty Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Associated Estates Realty Corporation reported that its annual Total Revenue rose from $149.62 million in 2011 to $194.08 million in 2014 and that its respective Net Income increased from $5.33 million to $144.71 million.
Shares of Associated Estates Realty Corporation (NYSE:AEC) grew from $13.77 per share in August 2013 to as high as $26.03 per share in March 2015.
On April 24, 2015, NYSE:AEC shares closed at $28.45 per share.
Those who are current investors in Associated Estates Realty Corporation (NYSE:AEC) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com