NEW YORK, Feb. 2, 2011 (GLOBE NEWSWIRE) -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of ProLogis (NYSE:PLD) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell ProLogis to AMB Property Corp. ("AMB") in a transaction valued at approximately $8.6 billion.
Under the terms of the definitive agreement, ProLogis shareholders will receive shares of AMB stock with an implied value of $14.70 per share, which is substantially less than the $15.21 price per share that ProLogis traded at on January 27, 2011. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of ProLogis.
If you own shares of ProLogis and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Matthew Houston toll free at (877) 935-7400 or to sign up online, visit www.hfesq.com. You may also email Mr. Houston at mhouston@hfesq.com. For more information about class action cases in general, please visit our website: www.hfesq.com.
Harwood Feffer LLP is a national shareholder litigation firm. Harwood Feffer LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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