Shareholder Wins Cert in Wells REIT Merger Spat

Law360, New York (September 16, 2009, 7:44 PM EDT) -- A federal judge has granted class certification in a shareholder suit accusing Wells Real Estate Investment Trust Inc., the company’s top brass and its adviser entities of misleading investors about an internal merger involving companies owned by Wells officers and directors.

On Wednesday Judge Charles A. Pannell Jr. of the U.S. District Court for the Northern District of Georgia granted class status to Washtenaw County Employees’ Retirement System, opening the gates for shareholders who claim that Wells concealed a favorable bid for the company when promoting...
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