Wells REIT Fails To Nix Shareholder Merger Challenge

Law360, New York (August 3, 2010, 3:56 PM EDT) -- The question of whether Wells Real Estate Investment Trust Inc. misled shareholders by failing to disclose a competing tender offer when promoting a $175 million “internalization” of its adviser affiliates is entitled to a trial, a federal judge has ruled.

Judge Charles A. Pannell Jr. of the U.S. District Court for the Northern District of Georgia on Monday denied a motion for summary judgment filed by Michael R. Smith of King & Spalding LLP and Tony G. Powers of Rogers & Hardin LLP on behalf of...
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