Faruqi & Faruqi, LLP Announces the Investigation of Thomas Properties Group, Inc. (TPGI) Over the Proposed Sale of the Company to Parkways Properties, Inc.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Thomas Properties Group, Inc. (“Thomas Properties” or the “Company”) (NYSE: TPGI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Parkway Properties, Inc. (“Parkway”) (NYSE: PKY) in a stock for stock deal valued at approximately $1.2 billion, including the assumption of debt. Under the terms of the proposed transaction, Thomas Properties’ stockholders will receive 0.3822 shares of Parkway, or approximately $6.26 for each share of Thomas Properties common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $7.00 for Thomas Properties.
If you own common stock in Thomas Properties and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.