Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of Lodgian, Inc.

Attorney Advertising. Notice is hereby given that Stull, Stull & Brody has commenced an investigation on behalf of shareholders of the common stock of Lodgian, Inc. (Amex: LGN) (“Lodgian” or the “Company”) for possible breaches of fiduciary duty and other violations of state law in connection with an agreement by the Company’s Board of Directors to allow the Company to be acquired by an affiliate of Loan Star Funds (“Lone Star”) in a transaction valued at approximately $270 million.

The current investigation concerns the price to be paid by Lone Star to Lodgian shareholders and the process by which Lodgian’s Board of Directors is addressing the transaction, including whether Lodgian’s Board of Directors breached its fiduciary duties to the Company’s shareholders by agreeing to sell the Company under the proposed terms. Whereas the transaction terms provide that Lodgian shareholders are to receive $2.50 in cash for each share of Lodgian common stock owned, the Company’s common stock traded as high as $2.98 per share as recently as April 30, 2009.

If you own the common stock of Lodgian and wish to obtain additional information about this matter, please contact Jason D’Agnenica, Esq. at Stull, Stull & Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to lodgian@ssbny.com or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. Stull, Stull & Brody has litigated many class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody has offices in New York and Los Angeles.

Attorney advertising. Prior results do not guarantee a similar outcome.

Lodgian (AMEX:LGN)
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De Mai 2024 à Juin 2024