San Diego, CA -- (SBWIRE) -- 04/01/2013 -- An investor in shares in Cole Credit Property Trust III, Inc. filed a lawsuit against directors in effort to block the proposed takeover of Cole Credit Property Trust III, Inc. by American Realty Capital Properties, Inc. (NASDAQ: ARCP) at $13.59 per Cole Credit Property Trust III, Inc. share in American Realty Capital Properties stock or $12.50 in cash.

Investors who purchased shares of Cole Credit Property Trust III, Inc.) prior to January 22, 2013, and currently hold any of those Cole Credit Property Trust III, Inc. shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed Cole Credit Property Trust III, Inc. stockholders.

On March 20, 2013, American Realty Capital Properties, Inc. (NASDAQ: ARCP) announced that on March 19, 2013, it sent to the Board of Directors of Cole Credit Property Trust III, Inc. an offer to acquire 100% of the outstanding common stock of Cole Credit Property Trust III for at least $12 per share, or $5.7 billion, in cash and stock. On March 21, 2013, Cole Credit Property Trust III, Inc and its board of directors rejected the $12-offer by American Realty Capital Properties, Inc. On March 27, 2013, American Realty Capital Properties, Inc. (NASDAQ: ARCP) announced it has submitted a revised proposal to the Board of Directors of Cole Credit Property Trust III, Inc to acquire 100 percent of the outstanding common stock of Cole Credit Property Trust III. American Realty Capital Properties’ refined proposal contemplates acquiring Cole Credit Property Trust III after the close of its acquisition of Cole for at least $13.59 per share in stock or $12.50 in cash, based upon information made publicly available by Cole Credit Property Trust III on March 25, 2013.

However, the plaintiff alleges that the chairman of Cole Credit, is seeking to merge, without a shareholder vote, the Cole Credit Property Trust III, Inc. with Cole Holdings Corp., the trust’s sponsor, which he fully owns. According to the complaint the plaintiff said that the only winner if the merger is not voted on by shareholders and is consummated is chairman of Cole Credit, Christopher Cole and the only loser if the merger is voted on by the shareholders and is rejected is Christopher Cole.

Those who are current investors in Cole Credit Property Trust III, Inc., have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com