STEVENSON, Md.--()--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Cole Credit Property Trust III, Inc. (“Cole III”), incorporated in Maryland, and other violations of state law by the board of directors of Cole III relating to the acquisition of Cole III’s asset manager and sponsor company, Cole Holdings Corporation (“Cole Holdings”). The firm’s investigation seeks to determine, among other things, whether the board of Cole III is breaching their fiduciary duties.
On March 6, 2013, Cole III announced that it had executed a definitive merger agreement under which Cole III will acquire Cole Holdings. Under the terms of the agreement, Cole III will make an upfront payment to management and Cole Holdings’ founder, Chris Cole, of $127 million in cash and stock for the transaction. Cole III will change its name to Cole Real Estate Investments, Inc. upon completion of the transaction and will pursue a listing on the New York Stock Exchange.
If you currently own shares of Cole III and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Brower Piven is the only firm headquartered in Maryland with a practice dedicated primarily to shareholder class action litigation. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.