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NTS Realty Holdings LP (NYSEAMEX:NLP) Investor Files Lawsuit Over Alleged Breaches Of Fiduciary Duties

  • If you purchased shares of NTS Realty Holdings LP (NYSEAMEX:NLP) prior to Dec. 27, 2012, and currently hold any of those NYSEAMEX:NLP shares, you have certain options and you 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
NTS Realty Holdings LP
Security
AMEX: NLP

Case Name
NTS Realty Holdings Deal Case 02/15/2013
Type of Lawsuit
Mergers and Acquisition
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Summary

Feb. 19, 2013 (Shareholders Foundation) -- An investor in NYSEAMEX:NLP shares filed a lawsuit against the proposed takeover of NTS Realty Holdings LP for $7.50 per NYSEAMEX:NLP share.
The plaintiff alleges that the defendants breached their fiduciary duties owed NYSEAMEX:NLP stockholders arising out of the attempt to sell the company too cheaply via an unfair process.

On Dec. 27, 2012, NTS Realty Holdings LP (NYSEAMEX:NLP) announced that it has entered into a merger agreement with entities created and controlled by J.D. Nichols, the founder and Chairman of NTS, and Brian F. Lavin, the President and CEO of NTS. Upon consummation of the merger, all of the outstanding partnership units of NTS not owned by Messrs. Nichols and Lavin and their affiliates would convert into $7.50 per unit in cash.

However, the plaintiff alleges that the offer is too low and undervalues the company. Indeed, NTS Realty Holdings’ financial performance improved lately. It reported that its annual Revenue rose from $40.92 million in 2008 to $54.64 million in 2011.