BALA CYNWYD, Pa. -- (Business Wire)
Law office of Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Associated Estates
Realty Corporation ("AEC” or "the Company") (NYSE-AEC-News) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to Brookfield Asset Management
Inc. (“Brookfield”).
Click here to learn more about the investigation http://brodsky-smith.com/922-aec-associated-estates-realty-corporation-.html,
or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, AEC shareholders will be cashed out
and receive only $28.75 for each share of AEC stock they own. The
investigation concerns whether the Board of AEC breached their fiduciary
duties to shareholders by failing to adequately consider other strategic
initiatives that may have resulted in enhanced value before agreeing to
enter into this transaction, and whether Brookfield is underpaying for
AEC. The transaction is significantly below the premium paid for
comparable transactions despite AEC’s extended track record of
delivering industry leading shareholder returns. For example, AEC
increased its quarterly dividend twice during the year and raised the
annualized distribution by 10.5%.
If you own shares of AEC and wish to discuss the legal ramifications of
the investigation, or have any questions, you may e-mail or call the law
office of Brodsky & Smith, LLC who will, without obligation or cost to
you, attempt to answer your questions. You may contact Jason L. Brodsky,
Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala
Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/922-aec-associated-estates-realty-corporation-.html,
or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise
representing shareholders throughout the nation in securities and class
action lawsuits. The attorneys at Brodsky & Smith have been appointed by
numerous courts throughout the country to serve as lead counsel in class
actions and have successfully recovered millions of dollars for our
clients and shareholders. Attorney advertising. Prior results do not
guarantee a similar outcome.
Contacts:
Brodsky & Smith, LLC
Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire, 877-LEGAL-90
Source: Brodsky & Smith, LLC
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