We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Hersha Hospitality Trust (“Hersha” or the “Company”) (NYSE: HT) in connection with its proposed acquisition by affiliates of KSL Capital Partners, LLC. Under the merger agreement, the Company’s common shareholders will receive $10.00 per share, and holders of Hersha’s 6.875% Series C Cumulative Redeemable Preferred Shares, 6.50% Series D Cumulative Redeemable Preferred Shares and 6.50% Series E Cumulative Redeemable Preferred Shares will receive $25.00 in cash, plus any accrued and unpaid dividends to which they are entitled. The transaction is valued at approximately $1.4 billion.
Weiss Law is investigating whether (i) Hersha’s board acted in the best interests of Company common shareholders in agreeing to the merger, (ii) the $10.00 merger consideration adequately compensates Hersha’s common shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, at least one analyst set a price target for the Company of $12 per share, $2.00 above the merger price.
Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
September 26, 2023
We are investigating possible breaches of fiduciary duty and violations of the federal securities laws by, among others, the Board of Directors and senior officers of Origin Materials, Inc. (NASDAQ: ORGN) (“Origin” or the “Company”), concerning the Company’s business, operations, and prospects surrounding the construction of the Origin 2 commercial plant.
September 14, 2023
Weiss Law announces that on September 13, 2023, they filed a class action lawsuit in the United States District Court for the Southern District of New York (“Court”), captioned Zappia v. Myovant Sciences Ltd. et al. Case 1:23-cv-08097, on behalf of a class (“Class”) of individuals and entities that held common stock of Myovant Sciences, Ltd. (“Myovant”) as of the close of business on January 20, 2023 (“Class Period”), asserting claims under Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, and Securities and Exchange Commission Rule 14a-9, in connection with the acquisition of Myovant Sciences, Ltd. by Sumitovant Biopharma Ltd. for an unfair price.
September 11, 2023
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Hostess Brands, Inc. (“Hostess” or the “Company”) (NASDAQ: TWNK), in connection with its acquisition by The J. M. Smucker Company (NYSE: SJM) (“Smucker”) via tender offer.