NEW YORK, Oct. 4, 2013 (GLOBE NEWSWIRE) -- Juan E. Monteverde , a partner at Faruqi & Faruqi, LLP , a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Thomas Properties Group, Inc. ("Thomas Properties" or the "Company") for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Parkway Properties, Inc. ("Parkway") in a stock for stock deal valued at approximately $1.2 billion, including the assumption of debt. Under the terms of the proposed transaction, Thomas Properties' stockholders will receive 0.3822 shares of Parkway. According to Yahoo! Finance, at least one financial analyst has set a price target of $7.00 for Thomas Properties.
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The investigation focuses on whether Thomas Properties' Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Thomas Properties' shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Thomas Properties and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/TPGI or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP 369 Lexington Avenue, 10th Floor New York, NY 10017 Attn: Juan E. Monteverde, Esq. Toll Free: (877) 247-4292 Phone: (212) 983-9330
