Breach Claims Over Ventas-Nationwide Health Deal Nixed

Law360, New York (June 1, 2011, 5:15 PM EDT) -- A Maryland state court judge threw out a shareholder challenge to Ventas Inc.'s $5.5 billion, all-stock purchase of Nationwide Health Properties Inc. on Friday, ruling that the trusts had no duty to maximize shareholder value as they would have in a cash-out merger.

Relying on Delaware law, Judge Stuart R. Berger rejected claims made under Maryland law by plaintiff Michael Crowley and other investors in four consolidated cases that the real estate investment trust sector deal amounted to a breach of fiduciary duty on the part...
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