Press release from Business Wire
The Law Firm of WeissLaw LLP Investigates American Realty Capital Trust, Inc.
Friday, September 07, 2012
The Law Firm of WeissLaw LLP Investigates American Realty Capital Trust, Inc.19:01 EDT Friday, September 07, 2012 NEW YORK (Business Wire) -- WeissLaw LLP, a national class action and shareholder rights firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of American Realty Capital Trust, Inc. (“ARCT”) (NasdaqGS: ARCT) arising from its agreement for ARCT to be acquired by Realty Income Corporation (NYSE: O) in a stock-for-stock transaction expected to close during the fourth quarter of 2012 or early first quarter of 2013. Under the terms of the deal, shareholders will receive a fixed ratio of 0.2874 Realty Income shares for each ARCT share. Based on ARCT's and Realty Income's respective closing prices on September 5, 2012, the last trading day before the deal was announced, the transaction values ARCT at approximately $12.21 per share – thereby providing ARCT shareholders with a mere 2% premium. WeissLaw LLP is investigating whether ARCT's Board acted in the best interests of shareholders in approving this deal. ARCT's Board approved the deal merely six months after the Company's IPO. Prior to the deal's announcement, at least two analysts following ARCT had set the price target of the stock at $13.00 per share. Indeed, ARCT stock hit a pre-deal high of $12.07 per share on September 5, 2012. If you own ARCT shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by telephone at (888) 593-4771 or by email at email@example.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 institutions and individuals and obtained important corporate governance in 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 issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome. WeissLaw LLPJulia J. Sun, Esq.1500 Broadway, 16th FloorNew York, NY 10036T: 212.682.3025F: email@example.com