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Condor Hospitality Trust, Inc.

Case Summary

Condor Hospitality Trust, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 08/20/2019 (Ongoing date of last review)

Filing Date: August 20, 2019

According to the Complaint, Condor, formed in 1994, is a real estate investment trust that owns upscale hotels
in the top metropolitan statistical areas.

This action stems from Proposed Transaction first disclosed on July 22, 2019, when Condor and NexPoint Hospitality Trust announced that they had entered into a definitive merger agreement pursuant to which NexPoint will acquire all of the outstanding shares of common stock of Condor for $11.10 per share. The deal is valued at approximately $318 million and is expected to close in the in the fourth quarter of 2019.

The Complaint alleges Defendants have violated sections of the Exchange Act by causing a materially incomplete and misleading preliminary proxy statement (the “Proxy”) to be filed with the United States Securities and Exchange Commission (“SEC”) on August 9, 2019. Specifically, the Complaint alleges that the Proxy contains materially incomplete and misleading information concerning the sales process, financial projections prepared by Condor management, as well as the financial analyses conducted by Condor’s financial advisor.

Company & Securities Information

Defendant: Condor Hospitality Trust, Inc.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CDOR
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

William Graham, et al. v. Condor Hospitality Trust, Inc., et al.

COURT: D. Delaware
DOCKET #: 19-CV-01552
JUDGE: Hon. Colm F. Connolly
DATE FILED: 08/20/2019
CLASS PERIOD START: 07/22/2019
CLASS PERIOD END: 08/20/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 08/20/2019
2 U.S. District Court Civil Docket 08/20/2019

Reference Complaint

—Reference Complaint Complaint Related Data is not available

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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