SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky LLP Notifies Purchasers of MPG Office Trust, Inc
Jul 12th 2013 4:17PM
Updated Jul 12th 2013 4:18PM
SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky LLP Notifies Purchasers of MPG Office Trust, Inc. Preferred Shares of Class Action Lawsuit
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky LLP announces it has filed a class action lawsuit in The Circuit Court of Baltimore City, Maryland on behalf of holders of MPG Office Trust, Inc. ("MPG" or the "Company") (NYS: MPG) preferred stock. The complaint challenges the proposed merger between MPG and affiliates of Brookfield Office Properties Inc. (NYS: BPO) and a tender offer proposed by Brookfield for MPG preferred shares.
For more information, click here: http://zlk.9nl.com/mpg-officetrust/.
Pursuant to the contract governing MPG preferred stock, said shareholders are currently owed approximately $8.58 per share in accrued and unpaid dividends. Indeed, MPG has not paid dividends to its preferred shareholders since 2008. The April 25, 2013 tender offer by Brookfield, however, offers no compensation to preferred shareholders for their accrued and unpaid dividends.
The filed complaint alleges that the proposed tender offer and merger violate the terms of the contract governing the Preferred stock, since the contract states that preferred shares would never be converted without shareholder consent. The complaint further alleges that the terms of the tender offer are wrongfully coercive and unlawful, since preferred shareholders would be forced to choose between tendering their shares and foregoing the accrued dividends owed to them, or converting their shares pursuant to the terms of the merger. The Court has scheduled a preliminary injunction hearing for July 24, 2013 on the condition that the closing of the tender offer and merger be held open pending a decision.
Plaintiffs are represented by Donald J. Enright of Levi & Korsinsky LLP. To obtain additional information, contact Mr. Enright or Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/mpg-officetrust/.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq. / Eduard Korsinsky, Esq.
Toll Free: 877-363-5972
KEYWORDS: United States North America Maryland
The article SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky LLP Notifies Purchasers of MPG Office Trust, Inc. Preferred Shares of Class Action Lawsuit originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.