Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating the acquisition of Thomas Properties Group, Inc. (“Thomas”) (NYSE: TPGI) by Parkway Properties, Inc. for shareholders. Under the terms of the definitive merger agreement, valued at approximately $1.2 billion, Thomas shareholders will only receive 0.3822 shares of Parkway Properties common stock for each share of Thomas stock owned. Based on Parkway’s closing stock price on September 4, 2013, this amounts to consideration of approximately $6.26, well below at least one analyst’s estimated value of $7.00 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor LLP, toll free (877) 728-9607 or via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The investigation into the Thomas sale is focused on whether shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction properly values Thomas stock, and whether Thomas’ board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, at least one analyst with Yahoo! Finance estimates that the true inherent value of Thomas stock could be as high as $7.00 per share.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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