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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

(CXP): Johnson Fistel Investigates Proposed Sale of Columbia Property; Is $19.30 a Fair Price??

September 7, 2021 GMT

SAN DIEGO, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Columbia Property Trust, Inc. (NYSE: CXP) (“Columbia Property” or the “Company”) breached their fiduciary duties in connection with the proposed sale of the Company to Pacific Investment Management Co. LLC. (“PIMCO”).

On September 7, 2021, Columbia Property announced entering into a merger agreement with PIMCO. Under the agreement terms, PIMCO will acquire all of the issued and outstanding shares of Columbia Property common stock for $19.30 per share in cash.

The investigation concerns whether the Columbia Property board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Columbia Property shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts’ projections for future revenue growth.

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If you are a shareholder of Columbia Property and believe the proposed buyout price is too low or you’re interested in learning more about the investigation, please contact lead analyst Jim Baker ( jimb@johnsonfistel.com ) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com


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