Law Firm Brower Piven Announces Class Action Lawsuit in Connection With the Possible Acquisition of Cogdell Spencer, Inc. by Ventas, Inc.
STEVENSON, MD -- (Marketwire) -- 01/10/12 -- The law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the Maryland Circuit Court for Baltimore City, on behalf of shareholders of Cogdell Spencer, Inc. ("Cogdell Spencer") (NYSE: CSA).
The claims arise from the proposed acquisition of Cogdell Spencer by Ventas, Inc. ("Ventas"). According to the complaint, on December 27, 2011, defendants announced that they had entered into a definitive merger agreement pursuant to which Ventas will purchase Cogdell Spencer in an all-cash transaction for $4.25 per share or approximately $217 million. The complaint alleges, among other things, that the offered consideration does not compensate shareholders for the company's actual worth and that the premium offered by Ventas hardly represents any premium at all given Cogdell Spencer's past market performance. The complaint alleges that in pursuing the proposed transaction, each of the defendants has violated applicable law by directly breaching and/or aiding and abetting breaches of fiduciary duties of loyalty and due care owed to plaintiff and the proposed class.
If you currently own shares of Cogdell Spencer 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 email@example.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Brower Piven is a Maryland-based firm that is experienced with the Maryland legal standards that will apply in seeking to protect shareholders' rights. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
Charles J. Piven
Brower Piven, A Professional Corporation