Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Excel Trust, Inc. ("Excel" or "the Company") NYSE -EXL-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Blackstone Property Partners L.P. ("Blackstone").
Under the terms of the transaction, Excel shareholders will receive only $15.85 in cash for each share of Excel stock they own. The investigation concerns whether the Board of Excel breached their fiduciary duties to shareholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Blackstone is underpaying for Excel. The transaction may both undervalue Excel and would result in a minimal gain for many Excel shareholders. The transaction price being paid to the Excel shareholders is below an analyst price target and would prevent Excel shareholders from taking part in the Company's growth.
If you own shares of Excel and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders.