Maryland State Court Upholds CommonWealth REIT’s Arbitration Bylaw
08 Maio 2013 - 6:32PM
Business Wire
CommonWealth REIT (NYSE: CWH) today announced that the Circuit
Court for Baltimore City (the “Court”) referred to arbitration the
pending litigation in the Court brought by Corvex Fund Management
LP (“Corvex”) and Related Fund Management, LLC’s (“Related,” and
together with Corvex, “Corvex/Related”). All remaining issues in
the litigation between CWH and Corvex/Related will be determined in
the resulting arbitration. The Court also ordered Corvex/Related to
pay the Court’s costs in connection with its motions.
CommonWealth REIT is a real estate investment trust, or REIT,
which primarily owns office properties located throughout the
United States. CWH is headquartered in Newton, MA.
WARNING REGARDING FORWARD LOOKING
STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN
THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE
BASED UPON CWH’S CURRENT EXPECTATIONS BUT THEY ARE NOT GUARANTEED
TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, INCLUDING SOME
REASONS BEYOND CWH’S CONTROL. FOR EXAMPLE:
- THIS PRESS RELEASE SAYS THE CURRENT
MARYLAND LITIGATION HAS BEEN REFERRED TO ARBITRATION.
CORVEX/RELATED MAY APPEAL THIS DECISION AND IT MAY BE SUBSEQUENTLY
OVERTURNED.
- THE FACT THAT THE COURT UPHELD CWH’S
ARBITRATION BYLAW MAY IMPLY THAT CWH WILL PREVAIL ON ALL ISSUES IN
THE ARBITRATION. ARBITRATION RESULTS ARE UNCERTAIN AND THERE CAN BE
NO ASSURANCE THAT CWH WILL PREVAIL.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO
PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS IN THIS PRESS
RELEASE. EXCEPT AS MAY BE REQUIRED BY APPLICABLE LAW, CWH DOES NOT
INTEND TO UPDATE THE FORWARD LOOKING STATEMENTS IN THIS PRESS
RELEASE AS A RESULT OF NEW INFORMATION WHICH MAY COME TO ITS
ATTENTION.
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