Shareholder Alert: Ademi LLP investigates whether Hersha Hospitality Trust has obtained a Fair Price in its transaction with KSL
MILWAUKEE, Aug. 28, 2023 /PRNewswire/ — Ademi LLP is investigating Hersha (NYSE: HT) for possible breaches of fiduciary duty and other violations of law in its transaction with KSL.
Click here to learn how to join the action https://www.ademilaw.com/case/hersha-hospitality-trust or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, Hersha stockholders are expected to receive only $10.00 in cash for each common share they own, and holders of Hersha’s 6.875% Series C Cumulative Redeemable Preferred Shares, 6.50% Series D Cumulative Redeemable Preferred Shares and 6.50% Series E Cumulative Redeemable Preferred Shares will receive $25.00 in cash, plus any accrued and unpaid dividends to which they are entitled, for each preferred share they own. The transaction agreement unreasonably limits competing transactions for Hersha by imposing a significant penalty if Hersha accepts a competing bid. Hersha insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Hersha’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Hersha common stock and wish to obtain additional information, please contact Guri Ademi either at email@example.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/hersha-hospitality-trust.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.