NEW YORK, May 23, 2018 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of LaSalle Hotel
Properties ("LHO" or the "Company") (NYSE: LHO) in connection with
the proposed acquisition of the Company by affiliates of Blackstone
Real Estate Partners VIII (the "Affiliates"). Under the terms
of the acquisition agreement, LHO shareholders will receive
$33.50 in cash for each share they
own.
WeissLaw is investigating whether LHO's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the Company rejected a cash-and-stock offer from
Pebblebrook Hotel Trust which values LHO at $35.89 per share, or nearly $2.50 more than the Affiliates' offer.
Given these facts, WeissLaw is investigating whether LHO's Board
acted in the best interests of LHO's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own LHO shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/lasalle-hotel-properties/
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SOURCE WeissLaw LLP
