Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of
Fiduciary Duty by the Board of Colonial Properties Trust in Connection with
the Sale of the Company to Mid-America Apartment Communities Inc.
NEW YORK, June 5, 2013
NEW YORK, June 5, 2013 /PRNewswire/ --Levi & Korsinsky is investigating the
Board of Directors of Colonial Properties Trust ("Colonial" or the "Company")
(NYSE: CLP) for possible breaches of fiduciary duty and other violations of
state law in connection with the sale of the Company to Mid-America Apartment
Communities Inc. ("Mid-America") (NYSE: MAA).
(Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO )
Click here to learn more about the investigation
http://zlk.9nl.com/colonial-properties-trust-clp/, or call: 877-363-5972.
There is no cost or obligation to you.
Under the terms of the transaction, Colonial shareholders will receive 0.36 of
a Mid-America share for each share of Colonial they own, representing a value
of approximately $24.47 per share. The investigation concerns whether the
Colonial Board of Directors breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter into the
transaction, and whether Mid-America is underpaying for Colonial, thus
unlawfully harming Colonial shareholders. In particular, at least one analyst
set a price target for Colonial stock at $26.00 per share.
If you own common stock in Colonial and wish to obtain additional information,
please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by
telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey 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. The attorneys at Levi &
Korsinsky have been appointed by numerous courts throughout the country to
serve as lead counsel on behalf of shareholders in major securities lawsuits
and have successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any of the
attorneys listed below. Attorney advertising. Prior results do not guarantee
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP
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