Business & Finance
Business and Finance
Business and Finance
Fri, February 4, 2011
The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of ProLogis in
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of ProLogis (NYSE: PLD) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed combination with AMB Property Corporation (aAMBa) (NYSE: AMB). Under the terms of the proposed transaction, each ProLogis common share will be converted into 0.4464 of a newly issued AMB common share. Based on AMBa™s prior closing price, the deal has an implied value of $14.70 per share.
The investigation concerns whether the ProLogis Board of Directors breached their fiduciary duties to ProLogis stockholders by failing to adequately shop the Company before entering into this transaction and whether ProLogis stockholders are receiving adequate consideration for their stock. At least one analyst set a price target for ProLogis stock $16.50 per share and ProLogis shares traded as high as $16.52 per share as recently as January 27, 2011.
If you own common stock in ProLogis and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/prologis-pld.html ].
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
