First Potomac Slapped With Suit Over $1.4B Sale To REIT

Law360, New York (August 11, 2017, 4:33 PM EDT) -- First Potomac’s proxy statement related to a $1.4 billion proposed sale to a fellow real estate investment trust leaves a lot to be desired and prevents its shareholders from making an informed vote on the deal, the investors alleged in Maryland federal court Wednesday.

The shareholders’ complaint, which also names the company’s board, claims that the proxy statement First Potomac Realty Trust filed on July 31 omits critical information the shareholders need to vote on the proposed sale to Government Properties Income Trust, namely information about...
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