NEW YORK, April 26, 2013 (GLOBE NEWSWIRE) -- WeissLaw LLP, a national class action, shareholder rights law firm with offices in New York and Los Angeles, is examining possible breaches of fiduciary duty and other violations of law by the Board of Directors of MPG Office Trust, Inc. ("MPG" or the "Company") for agreeing to sell MPG to Brookfield Office Properties Inc. ("Brookfield") in a transaction valued at approximately $2 billion. Under the terms of the agreement, MPG shareholders will receive $3.15 in cash for each share of MPG common stock.
The merger agreement also provides that a subsidiary of Brookfield will commence a tender offer to purchase all of the Company's outstanding preferred shares for $25.00.
WeissLaw LLP is investigating whether MPG's Board acted to maximize shareholder value prior to entering into the agreement with Brookfield. Notably, the offer price for MPG common stock is a significant discount to MPG's 52-week high of $3.81. In addition, at least one analyst has set a price target above the merger consideration, at $3.50 per MPG share. If you own MPG shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
The firm is also investigating actions on behalf of shareholders for the following companies: Exide Technologies, Buckeye Technologies Inc., Met-Pro Corporation, National Financial Partners Corp. and Power-One Inc.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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