Salas Wang LLC Launches Investigation Into Spirit Realty And Cole Properties Merger

Salas Wang LLC, a national securities firm located in Chicago, is investigating the Board of Directors of Spirit Realty (“SRC” or the “Company”) (NYSE: SRC) for potential breaches of fiduciary duties in selling the Company to Cole Capital Property Trust II in a stock-for-stock deal that values Spirit at less than $18.00 per share. Spirit shareholders will be giving up control and exchanging their shares in the Company for shares of a non-public real estate investment trust for little or no change-of-control premium.

More specifically, the investigation is to determine if SRC’s Board of Directors breached their fiduciary duties to the Company’s stockholders by not conducting an adequate and fair sales process before approving the proposed transaction, and if this proposed transaction undervalues the Company, causing damage to SRC’s shareholders. To learn more, you can visit http://www.salaswang.com/topics/investigations/src/

Salas Wang LLC is a law firm that represents investors and individuals in all types of securities litigation and arbitration.

If you own common stock in SRC and wish to obtain additional information and your options going forward, please visit us at  www.salaswang.com or contact firm partner Jeffrey M. Salas by e-mail at jsalas@salaswang.com or by telephone at (312) 803-4963.

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Copyright Business Wire 2010

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