On or around 10/21/2019 (Notice of voluntarily dismissal)
Filing Date: November 09, 2018
According to the Complaint, Select Income REIT ("SIR" or the Company) is a real estate investment trust. The Company is engaged in the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. As of June 30, 2018, SIR's consolidated portfolio consisted of 367 buildings, leasable land parcels and easements with approximately 45.7 million rentable square feet that were approximately 94.8% leased (based on rentable square feet).
On September 17, 2018, Government Properties Income Trust ("GOV") and SIR issued a joint press release to announce the Proposed Merger between SIR and GOV.
The Complaint alleges that on October 26, 2018, the Board authorized the filing of a materially incomplete and misleading amended registration statement on form S-4 (the “Proxy”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act that recommends shareholders vote in favor of the Proposed Merger. Specifically, the Complaint alleges the Proxy contains materially incomplete and misleading information concerning: (i) critical projected financial information; (ii) the valuation analyses performed by the Company’s financial advisor in support of its fairness opinions; (iii) the conflicts of interest faced by the Company's financial advisor; and (iv) the background of the Proposed Merger.
On October 11, 2019, the Court issued an Order awarding attorneys' fees to Plaintiff's attorney. The case was voluntarily dismissed on October 21.
Company & Securities Information
Defendant: Select Income REIT
Industry: Investment Services
Headquarters: United States
Ticker Symbol: SIR
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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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
Jesse Chen, et al. v. Select Income REIT, et al.
COURT: S.D. New York
DOCKET #: 18-CV-10418
JUDGE: Hon. George B. Daniels
DATE FILED: 11/09/2018
CLASS PERIOD START: 09/17/2018
CLASS PERIOD END: 11/09/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Monteverde & Associates PC
First Identified Complaint (FIC) Filings:
Class Action Complaint
Memorandum and Order
U.S. District Court Civil Docket
Notice of Dismissal
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available