Business & Finance
Business and Finance
Business and Finance
Wed, February 9, 2011
The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of ProLogis in
NEW YORK--([ BUSINESS WIRE ])--The Law Offices of Vincent Wong are investigating the Board of Directors of ProLogis (aPLDa or the aCompanya) (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 giving ProLogis shares an implied value of $14.70 per share, based on AMBa™s prior closing price.
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. ProLogis shares traded as high as $16.52 per share as recently as January 27, 2011 and at least one analyst set a price target for ProLogis stock $16.50 per share.
If you own common stock in ProLogis and wish to obtain additional information, please contact Vincent Wong, Esq. either via email [ vw@wongesq.com ], by telephone at 212.584.2740, or visit [ http://www.wongesq.com/prologis.html ].
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
