WILMINGTON, Del.--(EON: Enhanced Online News)--Rigrodsky & Long, P.A.:
- Do you own shares of Thomas Properties Group, Inc. (NYSE: TPGI)?
- Did you purchase any of your shares prior to September 5, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Thomas Properties Group, Inc. (“Thomas Properties” or the “Company”) (NYSE: TPGI) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Parkway Properties, Inc. (“Parkway”) (NYSE: PKY) in a transaction valued at approximately $1.2 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/thomas-properties-group-inc-tpgi.
Under the terms of the agreement, public shareholders of Thomas Properties will receive 0.3822 shares of newly issued Parkway common stock for each share of Thomas Properties they own. Based on Parkway’s closing stock price of $16.37 on September 4, 2013, Thomas Properties shareholders would have received consideration valued at approximately $6.26 per share.
The investigation concerns whether Thomas Properties’ board of directors failed to adequately shop the Company and obtain the best possible value for Thomas Properties’ shareholders before entering into an agreement with Parkway. According to Yahoo! Finance, at least one analyst has set a price target for Thomas Properties stock at $7.00 per share.
If you own the common stock of Thomas Properties and purchased your shares before September 5, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Shaye Fuchs at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/thomas-properties-group-inc-tpgi.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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