Cole Investors Sue To Block $11B ARCP Merger

Law360, New York (November 18, 2013, 6:52 PM EST) -- A group of Cole Real Estate Investments Inc. shareholders launched a putative class action Monday in Arizona against Cole, American Realty Capital Properties Inc. and related officers alleging that the companies' recently announced $11.2 billion merger agreement is full of fiduciary breaches and conflicts of interest.

The shareholders allege the deal, which Cole initially rejected, is simply a way for two officers — Christopher H. Cole and Marc T. Nemer — to cash in on money owed to them from a previous transaction.

“[B]oth the value...
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