NEW YORK--()--The law firm of Wohl & Fruchter LLP has commenced an investigation into a proposal to acquire all of the outstanding publicly-held limited partnership interests of NTS Realty Holdings Limited Partnership (NYSE: NLP) submitted by NLP’s founder and Chairman, J.D. Nichols, and CEO, Brian Lavin.
On August 31, 2012, the board of directors of NLP’s managing general partner announced that it had received a non-binding proposal from Messrs. Nichols and Lavin to acquire all of the publicly-held limited partnership interests of the Company for $5.25 per unit in cash. As of June 30, 2012, Mr. Nichols beneficially owned approximately 61.7% of the outstanding limited partnership units of NLP.
Wohl & Fruchter’s investigation concerns the fairness of the buyout proposal, and the adequacy of the procedures adopted by NLP in response to the proposal.
Additional information is available at http://www.wohlfruchter.com/cases/nlp.
Persons with relevant information, and NLP unitholders with questions about this investigation, are invited to contact our Firm at 866.582.8140, or the attorney below.
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