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American Finance Trust, Inc. (NASDAQ: AFIN) Investor Lawsuit Filed Against Takeover

  • Investors who purchased shares of American Finance Trust, Inc. (NASDAQ: AFIN) and currently hold any of those NASDAQ: AFIN shares have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
American Finance Trust, Inc.
Security
NASDAQ: AFIN

Case Name
American Finance Trust Deal Case
Type of Lawsuit
Mergers and Acquisition
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Summary

An investor, who currently holds shares of American Finance Trust, Inc. (NASDAQ: AFIN), filed a lawsuit against the takeover of American Finance Trust, Inc.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: AFIN stockholders by agreeing to sell American Finance Trust, Inc. cheaply via an unfair process.

On Aug. 1, 2018, American Finance Trust, Inc. ( AFIN ) announced that its board of directors recommends that AFIN's stockholders reject the latest unsolicited mini-tender offer launched by MacKenzie Realty Capital, Inc. and certain of its affiliates (collectively, MacKenzie ) to purchase up to 400,000 shares of each class of AFIN's common stock.

However, plaintiff claims that the proposed consideration NASDAQ: AFIN shareholders will receive is grossly inadequate and undervalues American Finance Trust.

In addition, the plaintiff alleges that the process is also unfair NASDAQ: AFIN stockholders.