WILMINGTON, Del., July 17, 2017 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Maryland on behalf of holders of FelCor Lodging Trust Incorporated (“FelCor”) (NYSE:FCH) common stock in connection with the proposed acquisition of FelCor by RLJ Lodging Trust and its affiliates (“RLJ”) announced on April 24, 2017 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against FelCor, its Board of Directors (the “Board”), and RLJ, is captioned Assad v. FelCor Lodging Trust Inc., Case No. 1:17-cv-01744 (D. Md.).
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail at info@rl-legal.com, or at http://rigrodskylong.com/contact-us/.
On April 23, 2017, FelCor entered into an agreement and plan of merger (the “Merger Agreement”) with RLJ. Pursuant to the Merger Agreement, each outstanding share of common stock of FelCor will be converted into the right to receive 0.362 common shares of beneficial interest of RLJ, and each share of $1.95 Series A cumulative convertible preferred stock of FelCor will be converted into the right to receive one share of newly created Series A cumulative convertible preferred shares of RLJ (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission on June 2, 2017. The Complaint alleges that the Registration Statement, which recommends that FelCor stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to FelCor’s financial projections, the analyses performed by FelCor’s financial advisors, and potential conflicts of interest. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of FelCor common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than September 15, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.
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