BRE Settles Investor Suits Over $4.5B Essex Merger

Law360, New York (March 19, 2014, 3:23 PM EDT) -- BRE Properties Inc. settled Tuesday three proposed shareholder class actions in Maryland state court attempting to block the real estate investment trust’s proposed merger with Essex Property Trust Inc., which will create a REIT with a total market capitalization of $15.4 billion.

The lawsuits were filed in December and January in an attempt to stop the $4.48 billion cash-and-stock transaction, and on Feb. 7 all three shareholders filed separate but identical amended complaints that alleged BRE did not disclose all necessary information about the merger in documents...
To view the full article, register now.