NEW YORK, June 29, 2017 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of First Potomac Realty
Trust ("FPO" or the "Company") (NYSE: FPO) in connection with the
proposed acquisition of the Company by Government Properties Income
Trust ("Government Properties") (NASDAQ: GOV). Under the
terms of the acquisition agreement, the Company's shareholders will
receive $11.15 in cash for each FPO
share they own.
WeissLaw is investigating whether FPO's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the per-share offer price is nearly $1.00 less the analyst target price of
$12.00, offers a meager 9.3% premium
over FPO's 30-day average share price, and is $0.20 less than its June
27 closing price.
Moreover, Government Properties stands to gain significant
benefits from this transaction. According to David Blackman, Government Properties's
President and CEO, the deal will help "expand [Government
Properties's] business strategy to include the acquisition,
ownership and private-sector tenants in the metropolitan
Washington, D.C., market
area."
Given these facts, WeissLaw is investigating whether FPO's Board
acted in the best interests of FPO's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own FPO shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP 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 stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/first-potomac-realty-trust/
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SOURCE WeissLaw LLP
