Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Wednesday, July 1, 2015
Faruqi & Faruqi Investigation: Gramercy Property Trust Inc.
Faruqi & Faruqi, LLP Announces the Investigation of Gramercy Property Trust Inc. (GPT) Over the Proposed Sale of the Company to Chambers Street Properties
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Gramercy Property Trust Inc. (“Gramercy Property” or the “Company”) (NYSE:GPT) for potential breaches of fiduciary duties in connection with the sale of the Company to Chambers Street Properties for approximately $5.7 billion in a stock transaction. The Company’s stockholders will only receive 3.19 shares of Chambers Street for each share of Company common stock they own. The transaction values New York-based Gramercy Property at $25.36 per share.
However, the median target price set by market analysts is of $32.00 per share. Further the stock has traded historically at higher prices and even low target prices, of $29.50 per share, are above the current offer.
If you own common stock in Gramercy Property and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F'sJuan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.