Piedmont REIT Argues Hiding Merger Offer Was Legal

Law360, New York (April 6, 2012, 3:09 PM EDT) -- Piedmont Office Realty Trust Inc. told a Georgia federal court on Wednesday that it was not legally required to disclose to a class of shareholders a merger offer made in 2007 during the company’s preparations for an initial public offering. 

Piedmont moved for summary judgment in the investor class action, which accuses the company of hiding a $9.25 per-share merger offer from Lexington Realty Trust Inc. in order to rush through a deal to integrate some affiliated advisory services, an agreement that shook out to just...
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