Faruqi & Faruqi, LLP Announces the Investigation of American Residential Properties, Inc. (ARPI) Over the Proposed Sale of the Company to American Homes 4 Rent
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of American Residential Properties, Inc. (“American Residential” or the “Company”) (NYSE:ARPI) for potential breaches of fiduciary duties in connection with the sale of the Company to American Homes 4 Rent for approximately $1.3 billion.
The Company’s stockholders will only receive 1.135 common shares of American Homes 4 Rent for each share of Company common stock they own, or approximately $18.18 per share. However, the offer represents virtually no premium over the 52-week high and significantly lower than at least one analyst’s estimated value of $23.00 per share.
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