ProLogis Shareholders Sue To Block AMB Merger

Law360, New York (February 9, 2011, 6:35 PM EST) -- Shareholders of warehouse space provider ProLogis have filed a putative class action claiming its January merger deal with AMB Property Corp. undervalued the company by as much as $1.82 per share and should be blocked.

The plaintiffs told the U.S. District Court for the District of Colorado on Tuesday that ProLogis and its executives breached their fiduciary duty to the shareholders in executing the all-stock merger of equals between the two companies, whose combined assets would purportedly total $46 million.

The agreement, signed Jan. 31, created...
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