Illinois – All Cases
Inland Western Retail Real Estate Trust, Inc., et al.
Jurisdiction: N.D. Ill.
City: Chicago
Case Status: Resolved
Federal securities class action on behalf of Inland Western shareholders alleging violations of the federal securities laws by Inland Western and certain of its current and former directors, officers and affiliates, and its financial advisor, by virtue of their devising and soliciting the shareholders’ approval of a merger of defendants’ affiliate with Inland Western for $375 million worth of the Company’s stock. The Firm negotiated a settlement requiring defendants to return $90 million worth of the stock they received in the merger, which represented a recovery of over 40% of estimated damages.
Inland Western Retail Real Estate Trust, Inc.
Jurisdiction: N.D. Ill.
City: Chicago
Case Status: Resolved
A $90 million settlement was reached in this class action challenging the accuracy of a proxy statement that sought (and received) stockholder approval of the acquisition of affiliated companies (an advisor and property managers) by Inland Western Retail Real Estate Trust, Inc. a multi-billion dollar real estate investment trust.