New York, New York (PRWEB) March 26, 2013
Zamansky & Associates LLC updates its investigation of Cole Credit Property Trust III (“Cole Credit III”), the non-traded real estate investment trust, in view of recent events. The investigation concerns whether Cole Credit Property Trust III shareholders are paying excessive or fair value for the acquisition of Cold Holdings Corp. or whether the transaction breaches fiduciary duties owed to shareholders.
On March 21, 2013, Cole Credit III issued a press release on PRNewswire announcing that the Special Committee of its Board of Directors had affirmed its commitment to acquire Cole Holdings Corp., and pursue a listing on the New York Stock Exchange. Cole Credit III also announced that the Special Committee determined that it would not be in the best interests of shareholders to sell to American Realty Capital Properties, Inc.
Previously, on March 7, 2013, Zamansky & Associates had announced that it was investigating the Cole Credit III shareholders were overpaying and whether insiders are receiving an unjustified windfall. The proposed transaction announced by Cole Credit III March 6, 2013, indicated that Cole Holdings and its management and its founder, Chris Cole, would receive $127 million in cash and stock in the transaction.
The Special Committee’s approval reflects that the Cole Credit III acquisition is moving forward, according to Jake Zamansky. He questions whether the Cole Credit III insiders and management will reap huge fees at the shareholders’ expense. Zamansky is also expanding his investigation into whether the Cole Credit III shareholders would have been better off accepting the other offer.
What Cole Credit III Investors Can Do
If you are a shareholder of Cole Credit III and would like to discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky & Associates LLC
Zamansky & Associates LLC is one of the leading law firms specializing in securities fraud and financial services arbitration and class action litigation. We represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
To learn more about Zamansky, please visit our website, http://www.zamansky.com.
Zamansky & Associates, LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414