Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation
of Colonial Properties Trust Over the Proposed Sale of the Company to
Mid-America Apartment Communities Inc.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New
York City, is investigating the Board of Directors of Colonial Properties
NEW YORK -- June 4, 2013
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national
securities firm headquartered in New York City, is investigating the Board of
Directors of Colonial Properties Trust (“Colonial” or the “Company”) (NYSE:
CLP) for potential breaches of fiduciary duties in connection with their
conduct related to the sale of the Company to Mid-America Apartment
Communities Inc. (“Mid-America”) (NYSE: MAA) in a stock for stock deal valued
at approximately $2.1 billion. Under the terms of the proposed transaction,
Colonial’s stockholders will receive 0.36 of a Mid-America share for each
share of Colonial they own, representing a value of approximately $23.72 per
share based upon Mid-America’s June 3, 2013 closing price. According to Yahoo!
Finance, at least one financial analyst has set a price target of $26.00 for
Request more information now by clicking here: www.faruqilaw.com/CLP. There is
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The investigation focuses on whether Colonial’s Board of Directors breached
their fiduciary duties to the Company’s stockholders by failing to conduct an
adequate and fair sales process prior to agreeing to this proposed
transaction, whether and by how much this proposed transaction undervalues the
Company to the detriment of Colonial’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and
individuals in class action litigation. The firm is focused on providing
exemplary legal services in complex litigation in the areas of securities,
shareholder, antitrust and consumer litigation, throughout all phases of
litigation. The firm has an experienced trial team which has achieved
significant victories on behalf of the firm’s clients.
If you own common stock in Colonial and wish to obtain additional information
and protect your investments free of charge, please visit us at
www.faruqilaw.com/CLP or contact Juan E. Monteverde, Esq. either via e-mail at
firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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