NEW YORK, Sept. 23, 2013 /PRNewswire/ -- 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") (NYSE: TPGI) for potential breaches of fiduciary
duties in connection with their conduct related to the sale of the
Company to Parkway Properties, Inc. ("Parkway") (NYSE: PKY) 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, or
approximately $6.28 for each share of
Thomas Properties common stock they own, while according to Yahoo!
Finance, at least one financial analyst has set a price target of
$7.00 for Thomas Properties.
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Request more information now by clicking here:
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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.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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