August 14, 2017 (Shareholders Foundation) - An investor, who currently holds shares of Monogram Residential Trust Inc (NYSE:MORE), filed a lawsuit in effort to halt the proposed takeover of Monogram Residential Trust Inc for $12.00 per share is unfair to NYSE:MORE stockholders.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:MORE stockholders by agreeing to sell Monogram Residential Trust Inc cheaply via an unfair process.

On July 4, 2017, Monogram Residential Trust, Inc. (NYSE: MORE) announced that it has entered into a merger agreement to be acquired by a newly formed perpetual life fund, Greystar Growth and Income Fund, LP, led by Greystar Real Estate Partners and its initial founding capital partners, affiliates of APG Asset Management N.V., GIC, and Ivanhoé Cambridge, in a transaction valued at approximately $3.0 billion, including debt to be assumed or refinanced. Under the terms of the merger agreement, Monogram's stockholders will receive $12.00 per share in cash.

However, plaintiff claims that the proposed consideration NYSE:MORE shareholders will receive is grossly inadequate and undervalues Monogram Residential Trust, Inc. Indeed, at least one analyst has set the high target price for NYSE:MORE shares at $12.50 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:MORE stockholders.

Shares of Monogram Residential Trust Inc (NYSE:MORE) closed on August 14, 2017, at $11.99 per share.