Cole Real Estate Investments, Inc. and American Realty Capital Properties, Inc. Shareholder Class Action

On October 30, 2013, Chimicles & Tikellis LLP filed the first shareholder class action in Maryland, in the Circuit Court for Baltimore City, captioned Operman v. Cole Real Estate Investments, Inc., et al., challenging the proposed Merger of Cole Real Estate Investments, Inc. (“Cole REIT”) and American Realty Capital Properties, Inc. (“ARCP”), which was announced on October 22, 2013.  The litigation was filed by investors Joseph Operman and Marjorie Rodgers (collectively “Plaintiffs”) on behalf of a class of Cole REIT shareholders against Cole REIT, Cole REIT’s board of directors and ARCP (collectively “defendants”).

Plaintiffs’ assert that Defendants breached their fiduciary duties to Cole REIT shareholders in connection with the Merger. Among other things, Plaintiffs allege that the Merger Consideration is inadequate, that Christopher Cole is being unfairly compensated in the Merger to the detriment of Cole REIT shareholders, that defendants engaged in an unfair process in negotiating the Merger, and that, as proposed, the Merger is not in the best interests of Cole REIT’s shareholders.

If you are a Cole REIT shareholder and would like to discuss this matter, or have pertinent information, please contact the attorneys for this case via the “Email us about this Case” form.

(*) Indicates required field: When communicating with us through this site or otherwise in connection with a matter for which we do not already represent you, your communication may not be treated as privileged or confidential, and does not create an attorney-client relationship between you and our Firm.

Attorneys for this case:

Kimberly Donaldson Smith
Christina Donato Saler