WILMINGTON, Del., June 12, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed on behalf of stockholders of American Realty Capital Healthcare, Trust Inc. ("ARC" or the "Company") (Nasdaq:HCT) seeking to challenge the Company's recently announced merger.
If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, on June 2, 2014, ARC and Ventas, Inc. ("Ventas") (NYSE:VTR) announced the signing of a definitive merger agreement pursuant to which Ventas would acquire ARC in a merger valued at roughly $2.6 billion. As a result of the merger, ARC shareholders are only anticipated to receive either 0.1688 shares of Ventas or $11.33 per share in cash in exchange for each share of ARC.
The complaint, which was filed on June 9, 2014, notes that the consideration that ARC shareholders are expected to receive is inadequate. ARC traded at $10.92 per share as recently as May 2, 2014. Based on the announced merger, the consideration represents only a meager 3.75% premium. Additionally, while ARC shareholders are given the choice of electing either 0.1688 shares of Ventas or $11.33 cash for each ARC share, the cash portion is capped at 10% which forces ARC shareholders to receive 0.1688 shares of Ventas. ARC shareholders are only expected to own 8% of the surviving corporation thus causing substantial dilution to ARC shareholders' original investment.
If you own shares of ARC and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/arc or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.