SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Urstadt Biddle Properties Inc. (NYSE – UBA and UBP)
BALA CYNWYD – May 18, 2023 /NewsFile/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Urstadt Biddle Properties Inc. (“Urstadt Biddle” or the “Company”) (NYSE – UBA and UBP) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Regency Centers Corporation (“Regency”) (Nasdaq: REG). Under the terms of the agreement, Urstadt Biddle’s Class A Common (UBA) and Common (UBP) stockholders will receive 0.347 of a newly-issued REG share for each UBA or UBP share they own, representing a total consideration of approximately $20.40 per share based on Regency’s closing share price on May 17, 2023 in a deal valued at approximately $1.4 billion, including the assumption of debt and preferred stock. Upon closing, Regency and Urstadt Biddle shareholders will own approximately 93% and 7% of the combined company, respectively.
The investigation concerns whether the Urstadt Biddle Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Regency is paying too little for the Company.
If you own shares of Urstadt Biddle stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class 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 have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.