Monogram Residential Trust, Inc. Securities Litigation
On or around 11/29/2017 (Other)
Filing Date: August 04, 2017
According to the Complaint, on July 4, 2017, Monogram and Greystar Real Estate Partners (“Greystar”) announced that they had entered into a definitive agreement (“Merger Agreement”) under which Greystar’s new fund, Greystar Growth and Income Fund, LP (“Growth and Income Fund”), will acquire all of the outstanding shares of Monogram in an all-cash transaction (the “Proposed Transaction”). If consummated, Monogram stockholders will receive $12.00 in cash for eachshare of Monogram common stock. The Proposed Transaction has an enterprise value of approximately $3.0 billion.
The Complaint alleges that on July 28, 2017, Defendants issued materially incomplete and misleading disclosures in the Schedule 14A Definitive Proxy Statement (the “Proxy”) filed with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Proxy is deficient and misleading in that it fails to provide adequate disclosure of all material information related to the Proposed Transaction.
On November 27, 2017, Plaintiff filed a Notice voluntarily dismissing this action. The Court issued an Order approving the Notice on November 29.
Company & Securities Information
Defendant: Monogram Residential Trust, Inc.
Industry: Real Estate Operations
Headquarters: United States
Ticker Symbol: MORE
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Bradley Hertz, et al. v. Monogram Residential Trust, Inc., et al.