On or around 06/26/2019 (Ongoing date of last review)
Filing Date: June 25, 2019
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 (“SEC”) 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.
Company & Securities Information
Defendant: Chesapeake Lodging Trust
Industry: Real Estate Operations
Headquarters: United States
Ticker Symbol: CHSP
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
Michael Kent, et al. v. Chesapeake Lodging Trust, et al.