Shareholder Sues To Block REIT Merger That Would Create $50B Company
This suit was surfaced by Law.com Radar. Read the complaint here.
June 15, 2021 at 06:05 PM
1 minute read
Realty Income, Vereit and and members of Vereit's board of directors were hit with a shareholder lawsuit Tuesday in New York Southern District Court over a planned merger between the two real estate investment firms. The court action, filed by Brodsky & Smith, contends that the $50 billion all-stock acquisition of Vereit by Realty Income undervalues the Arizona-based REIT. Counsel have not yet appeared for the defendants. The case is 1:21-cv-05286, Jenkins v. Vereit, Inc. et al.
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