According to the Complaint, Chesapeake Lodging Trust is a self-advised lodging real estate investment trust focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States.

This action stems from a proposed transaction announced on May 6, 2019, pursuant to which Chesapeake Lodging Trust will be acquired by Park Hotel & Resorts Inc.

On May 5, 2019, Chesapeake’s Board of Trustees caused the Company to enter into an agreement and plan of merger with Park. Pursuant to the terms of the Merger Agreement, Chesapeake stockholders will receive $11.00 in cash and 0.628 shares of Park common stock for each share of Chesapeake common stock they own.

On June 14, 2019, Defendants filed a registration statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

This case was voluntarily dismissed on September 4, 2019.