NEW YORK (TheStreet) -- Faruqi and Faruqi, a New York-based national securities firm, announced today that it's investigating the board of directors of American Reality Capital Healthcare Trust Inc. (HCT) regarding the sale of the company to Ventas Inc. (VTR - Get Report).
Shares of American Reality Capital Healthcare Trust are up 8.34% to $10.78 on news of the $2.6 billion sale.
The securities firm said they are investigating the board to determine if it breached its fiduciary duties to the company's shareholders by not conducting a fair sales process "and whether and by how much this proposed transaction undervalues the company to the detriment of ARC Healthcare's shareholders."
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