Extended Stay Stockholders Sue In Del. To Probe $6B Sale

Law360 (June 11, 2021, 8:01 PM EDT) -- Two Extended Stay America Inc. stockholders have sued in Delaware's Chancery Court for documents on a planned $6 billion sale of the 652-hotel chain to funds managed by Blackstone Group and Starwood Capital, saying insider self-interest and buyer clout may have tainted the deal.

Stockholder Jacob Wheeler filed an action under Delaware's general corporation law provisions for stockholder record inspection rights on Friday, one day after a similar demand by the City of Warren General Employees' Retirement System.

Both actions hit the court as Extended Stay and its paired-share real estate investment trust, ESH Hospitality, Inc., were tallying preliminary results of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!