10th Circ. Shuts Down REIT Suit Against Tishman

Law360, New York (August 25, 2011, 6:20 PM EDT) -- The Tenth Circuit on Thursday upheld the dismissal of a securities fraud class action brought by investors in a real estate investment trust that Tishman Speyer Development Corp. and Lehman Brothers Inc. bought for $22 billion.

The investors claim that offering documents associated with Lehman Brothers and Tishman Speyer's purchase of Archstone Smith Trust did not disclose risks associated with the merger.

Their stock in Archstone, known as A-1 units, had been particularly valuable prior to the merger because Archstone had vowed to indemnify A-1 holders...
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