Liberty Property Trust

Practice Area: 
Stock Symbol: 
LPT
Case Status: 
Investigations

Ademi & O’Reilly, LLP is investigating Liberty (NYSE:LPT) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Liberty to Prologis.

Ademi & O’Reilly, LLP alleges Liberty’s financial outlook is improving and yet shareholders will receive only 0.675x of a Prologis share for each Liberty share they own.  Prologis is acquiring Liberty at a substantial discount.  The merger agreement unreasonably limits competing bids for Liberty by prohibiting solicitation of further bids, and imposing a termination penalty if Liberty accepts a superior bid. Liberty insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of Liberty’ board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Liberty.