WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of LaSalle Hotel Properties (“LaSalle” or the “Company”) (NYSE: LHO) related to the Company’s entry into an agreement to be acquired by affiliates of Blackstone Real Estate Partners VIII (“Blackstone”) in a transaction announced on May 21, 2018 (the “Proposed Transaction”).
On May 20, 2018, the Board caused LaSalle to enter into an agreement and plan of merger (the “Merger Agreement”) with Blackstone. Under the terms of the agreement, shareholders of LaSalle will receive $33.50 in cash for each share of LaSalle common stock.
On June 18, 2018, LaSalle filed a preliminary proxy statement (“Proxy Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction, which recommends that Gramercy’s shareholders vote in favor of the Proposed Transaction. Rigrodsky & Long, P.A. is investigating possible violations of law related to the Proxy Statement, including whether the Proxy Statement omits material information with respect to the Proposed Transaction.
If you own common stock of LaSalle and purchased any shares before May 21, 2018, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail at firstname.lastname@example.org.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware, Garden City, New York, and San Francisco, California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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