Case Page

 

Case Status:    ONGOING    
On or around 06/14/2018 (Ongoing date of last review)

Filing Date: June 13, 2018

According to the Complaint, Gramercy Property Trust ("GPT" or the "Company") is a REIT, which is an investor and asset manager of commercial real estate. The Company's operating segments include Investments/Corporate and Asset Management. The Company is engaged in acquiring and managing single-tenant, net leased industrial, office, and specialty properties. The Company focuses on income producing properties leased to tenants in markets in the United States and Europe. The Company earns revenues through rental revenues on properties that it owns in the United States and asset management revenues on properties owned by third parties in the United
States and Europe.

On May 7, 2018, GPT issued a press release to announce the Proposed Transaction, under which Blackstone Real Estate Partners VIII ("Blackstone") will acquire all outstanding common shares of Gramercy for $27.50 per share in an all-cash transaction valued at $7.6 billion.

The Complaint alleges that on, June 11, 2018, the Board authorized the filing of a materially incomplete and misleading preliminary proxy statement (the “Proxy”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act. Specifically, the Proxy contains materially
incomplete and misleading information concerning the valuation analyses performed by the Company’s financial advisor, Morgan Stanley & Co. LLC (“Morgan Stanley”), in support of their fairness opinion.




COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GPT
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.
COURT: S.D. New York
DOCKET #: 18-CV-05335
JUDGE: Hon. P. Kevin Castel
DATE FILED: 06/13/2018
CLASS PERIOD START: 05/07/2018
CLASS PERIOD END: 06/13/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
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