BALA CYNWYD, Pa., May 8, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is has filed litigation in the Superior Court of Los Angeles County on behalf of the common shareholders and is investigating potential claims that preferred shareholders may have against the Board of Directors of MPG Office Trust, Inc. ("MPG" or the "Company") (NYSE: MPG) relating to the proposed acquisition Brookfield Office Properties, Inc. ("Brookfield").
Click here to learn more about the investigation http://brodsky-smith.com/577-mpg-mpg-office-trust-inc.html, or call 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, MPG shareholders will receive only $3.15 in cash for each share of MPG stock they own. The agreement also provides that MPG preferred shareholders will receive $25.00 in cash for each preferred share the own. Alternatively, MPG preferred shareholders may opt to have their MPG preferred shares converted into new preferred shares. However, if 66.6% or more of the MPG preferred shares are tendered then Brookfield will have the right to convert all remaining MPG preferred shares into $25.00 per preferred share.
The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of MPG for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue MPG and will result in loss or no substantial gain for many MPG shareholders.If you own shares of MPG stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com visiting http://brodsky-smith.com/577-mpg-mpg-office-trust-inc.html, by calling toll free 877-LEGAL-90. Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.