January 23, 2013
Bernstein Liebhard LLP is investigating whether the Board of Directors of Spirit Realty Capital, Inc. (“Spirit Realty” or the “Company”) (NYSE: SRC) breached its fiduciary duty to its shareholders in agreeing to merge Spirit Realty with Cole Credit Property Trust II (“CCPT II”).
Under the terms of the agreement, Spirit Realty shareholders will receive will receive a fixed exchange ratio of 1.9048 CCPT II shares for each share of Spirit Realty common stock owned in cash for each share they own. The investigation is focused on the potential unfairness of the price to Spirit Realty shareholders and the process by which the Spirit Realty Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last ten years.