Lundy Law is investigating potential claims against the Board of Directors of Associated Estates Realty Corporation (“AEC” or the “Company”) (NYSE: AEC) for possible breaches of fiduciary duty and other violations of law in connection with the proposed sale of the Company to Brookfield Asset Management Inc. (“Brookfield”). Under the terms of the proposed transaction, AEC shareholders will receive $28.75 for each share of AEC stock they own.
Among other things, the investigation concerns whether the proposed transaction undervalues the Company and whether the Board of Directors of AEC adequately shopped the Company to obtain the best possible value for AEC’s shareholders. Recently, AEC increased its quarterly dividend twice during the year and raised the annualized distribution by 10.5%. As a result of the proposed transaction, AEC shareholders will no longer be able to participate in the Company’s continued success.
If you own shares of AEC common stock and wish to discuss the legal ramifications of the investigation, or have any questions, contact Lundy Law who will, without obligation or cost to you, answer your questions. For more information you may contact David Promisloff, co-counsel to Lundy Law directly at 1-800-LundyLaw, or visit https://www.lundylaw.com/press-releases/AEC.
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