Piedmont REIT Gets Investor Suit Shut Down

Law360, New York (August 28, 2012, 2:32 PM EDT) -- Piedmont Office Realty Trust Inc. on Monday escaped federal securities claims brought by a class of investors alleging material omissions about a tender offer for the company when a Georgia federal judge ruled that the third amended complaint failed to meet pleading standards.

The investors alleged Piedmont had failed to include certain material information when recommending in a June 18, 2007, letter that they not sell their shares in connection with a $9.30-per-share tender offer from Lex-Win Acquisition LLC, not mentioning that the offer exceeded the...
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