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CommonWealth REIT Confirms Removal of Board of Trustees

CommonWealth REIT, the target of an investor campaign to overthrow the board, said all of its trustees have been removed after the required two-thirds of shareholders voted in favor of an ouster.

A special meeting to elect a new board will be held on or before May 23, according to a statement today by the Newton, Massachusetts-based real estate investment trust. Shareholders who have owned at least $2,000 worth of stock for at least one year may nominate trustees.