November 10, 2015 (Shareholders Foundation) - An investor who currently holds shares of Campus Crest Communities Inc (NYSE:CCG), filed a lawsuit in effort to halt the proposed takeover of Campus Crest Communities Inc by Harrison Street Real Estate Capital, LLC.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CCG stockholders by agreeing to sell Campus Crest Communities Inc too cheaply via an unfair process to affiliates of Harrison Street Real Estate Capital, LLC.

On October 16, 2015, Campus Crest Communities Inc (NYSE:CCG) announced that it has entered into a merger agreement with affiliates of Harrison Street Real Estate Capital, LLC pursuant to which Harrison Street will acquire all issued and outstanding shares of common stock of Campus Crest Communities Inc (NYSE:CCG) in a transaction involving total estimated merger consideration of $7.03 per share, which amount includes net sale proceeds currently estimated to be valued at up to $0.13 per share (based on current exchange rates) from the separate sale of the Company's ownership interest in its evo Montreal joint venture.

However, the plaintiff claims that the proposed consideration NYSE:CCG shareholders will receive is grossly inadequate and undervalues Campus Crest Communities Inc. Indeed, at least one analyst has set the high target price for NYSE:CCG shares at $8.00 per share. Furthermore, Campus Crest Communities Inc reported that its annual Total Revenue rose from $74.65 million in 2012 to $106.74 million in 2014.