Sunrise Investor Challenges $845M Health Care REIT Deal

Law360, Wilmington (September 6, 2012, 7:14 PM EDT) -- A Sunrise Senior Living Inc. shareholder lodged a putative class action Thursday to block Health Care REIT's $845 million bid to take the retirement home operator private, saying the deal unfairly benefits management while denying public investors value for the company’s “bright future.”

In a suit filed in Delaware Chancery Court, Perricone Family Trust alleges that Sunrise’s directors breached their duty to shareholders by signing off on the $14.50 per share deal, which would make Health Care REIT one of the nation’s biggest owners of assisted-living...
To view the full article, register now.