Law Firm Brower Piven Announces Investigation of Thomas Properties Group, Inc. Proposed Acquisition
September 12 2013 - 5:08PM
Business Wire
The securities litigation firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches
of fiduciary duty to current shareholders of Thomas Properties
Group, Inc. (“Thomas Properties” or the “Company”) (NYSE: TPGI) and
other violations of state law by the board of directors of Thomas
Properties relating to the proposed acquisition of the Company by
Parkway Properties, Inc. The firm’s investigation seeks to
determine, among other things, whether the board of directors of
Thomas Properties breached their fiduciary duties by failing to
maximize shareholder value.
According to the press release announcing the proposed
acquisition, Thomas Properties' shareholders will receive 0.3822
shares of newly issued Parkway common stock in exchange for each
share of Thomas Properties common stock, for an implied price per
share of $6.26 based on Parkway's closing stock price of $16.37 on
September 4, 2013. According to Yahoo! Finance, at least one
analyst following Thomas Properties has set a target price of $7.00
per share.
If you currently own common stock of Thomas Properties and would
like to learn more about the investigation being conducted by
Brower Piven, you may email or call Brower Piven, who will, without
obligation or cost to you, attempt to answer your questions. You
may contact Brower Piven by email at hoffman@browerpiven.com, by
calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and other class action cases of over 60 years.
Brower Piven, A Professional CorporationStevenson,
MarylandCharles J. Piven, 410-415-6616hoffman@browerpiven.com
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