Thomas Properties Group, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation of Acquisition by Parkway Properties, Inc.
October 02, 2013
Bernstein Liebhard LLP is investigating whether the Board of Directors of Thomas Properties Group, Inc. (“Thomas Properties” or the “Company”) (NYSE: TPGI) breached its fiduciary duty to its shareholders in agreeing to sell Thomas Properties to Parkway Properties, Inc. (“Parkway”).
Under the terms of the agreement, Thomas Properties shareholders will receive 0.3822 shares of newly issued Parkway common stock in exchange for each share they own. The investigation is focused on the potential unfairness of the price to Thomas Properties shareholders and the process by which the Thomas Properties 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.