Wells REIT Defeats Shareholder Merger Challenge

Law360, New York (September 27, 2012, 4:41 PM EDT) -- A Georgia federal judge on Wednesday granted summary judgment in favor of Wells Real Estate Investment Trust Inc. in a class action that alleged it misled shareholders by failing to disclose a competing offer when promoting a $175 million "internalization" of its adviser affiliates.

U.S. Judge Charles A. Pannell Jr. found that the plaintiffs could not prove that they would have acted differently if they had access to all of the disputed information, nor that the shareholders suffered the loss directly, according to an order....
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