NEW YORK, April 29, 2021 /PRNewswire/ —WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of VEREIT, Inc. («VEREIT» or the «Company») (NYSE: VER) in connection with the proposed acquisition of the Company by Realty Income Corporation («Realty Income») (NYSE: O). Under the terms of the merger agreement, VEREIT shareholders will receive 0.705 shares of Realty Income common stock for each share of VEREIT common stock that they hold, representing implied per-share merger consideration of approximately $48.36 based upon Realty Income’s April 28, 2021 closing price of $68.60. Upon consummation of the deal, Realty Income shareholders will own approximately 70% of the newly-combined company, leaving only 30% of the new company controlled by former VEREIT shareholders. The transaction is valued at approximately $50 billion.
If you own VEREIT shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether (i) VEREIT’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates VEREIT’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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SOURCE WeissLaw LLP