- THIS PRESS RELEASE REFERS TO THE SALES OF 34,500,000 SHARES IN THE EQUITY OFFERING. THE CLOSINGS OF THESE SALES ARE SUBJECT TO VARIOUS CONDITIONS. IF THESE CONDITIONS ARE NOT SATISFIED, THESE SALES MAY NOT CLOSE. IN ADDITION, LITIGATION HAS BEEN COMMENCED AGAINST COMMONWEALTH SEEKING, AMONG OTHER THINGS, TO RESCIND THE EQUITY OFFERING SHOULD IT BE COMPLETED. THERE CAN BE NO ASSURANCE THAT THE EQUITY OFFERING WILL BE CONSUMMATED, THAT IT WILL NOT BE DELAYED OR THAT THE TERMS WILL NOT CHANGE.
- THIS PRESS RELEASE STATES THAT THE MOTIONS IN THE DEL-CO ACTION AND RELATING TO THE CORVEX/RELATED COMPLAINT HAVE BEEN DENIED. AN IMPLICATION OF THESE STATEMENTS MAY BE THAT THE COURT PROCEEDINGS HAVE BEEN COMPLETED, OR THAT COMMONWEALTH WILL PREVAIL IN THESE LITIGATIONS. BOTH OF THESE LITIGATIONS AND OTHER LITIGATION BROUGHT OR WHICH MAY IN THE FUTURE BE BROUGHT AGAINST COMMONWEALTH OR ITS TRUSTEES OR OFFICERS ASSERT OR MAY ASSERT ADDITIONAL CLAIMS RELATED OR UNRELATED TO THE EQUITY OFFERING, AND COMMONWEALTH CAN PROVIDE NO ASSURANCES REGARDING THE FINAL OUTCOMES OF THESE LITIGATIONS. LITIGATIONS SOMETIMES PRODUCE UNEXPECTED RESULTS AND THEY COULD BE COSTLY AND COULD DIVERT THE TIME AND ATTENTION OF COMMONWEALTH’S MANAGEMENT FROM THE OPERATIONS OF ITS BUSINESS.
CommonWealth REIT Announces That Motions For Temporary Restraining Orders To Block Equity Offering Closing Have Been Denied
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