STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of LaSalle Hotel Properties (NYSE: LHO) (“LaSalle” or the “Company”) relating to the proposed buyout of LaSalle by affiliates of Blackstone Real Estate Partners VIII in a transaction announced on May 21, 2018.
On May 20, 2018, the Board caused LaSalle to enter into an agreement and plan of merger with Blackstone. Under the terms of the agreement, shareholders of LaSalle will receive $33.50 in cash for each share of LaSalle common stock held. On June 18, 2018, LaSalle filed a preliminary proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction, which recommends that its shareholders vote in favor of the Proposed Transaction. Brower Piven 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 currently own common stock of LaSalle and purchased shares before May 21, 2018, and you would like to learn more about the investigation being conducted, without cost or obligation to you, please contact Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.