Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Interstate Hotels & Resorts Inc.

Levi & Korsinsky is investigating the Board of Directors of Interstate Hotels & Resorts Inc. (“IHR” or the “Company”) (NYSE: IHR) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Hotel Acquisition Company, LLC, a 50/50 joint venture between subsidiaries of Thayer Hotel Investors V-A LP, a private equity fund sponsored by Thayer Lodging Group, and Shanghai Jin Jiang International Hotels (Group) Company Limited ("Hotel Acquisition"). Under the terms of the transaction, IHR shareholders will receive $2.25 in cash for each IHR share they own for a total transaction value of approximately $307 million.

The investigation concerns whether the IHR Board of Directors breached their fiduciary duties to IHR stockholders by failing to adequately shop the Company before entering into this transaction and whether Hotel Acquisition is underpaying for IHR shares, thus unlawfully harming IHR stockholders. The Company has a book value of more than $4.48 per share.

If you own common stock in IHR and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/ihr1.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.

Interstate Hotels (NYSE:IHR)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024