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Parkway, Inc. (PKY)

NYSE:PKY

Summary

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against Parkway, Inc.

Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of Texas, case No. 4:17-cv-02367, on behalf of shareholders of Parkway, Inc. (“Parkway” or the “Company”) (NYSE:PKY) who have been harmed by Parkway’s and its board of directors’ (the “Board”) alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with  the proposed merger of the Company with Canada Pension Plan Investment Board (“CPPIB”).

On June 29, 2017, the Board caused the Company to enter into an agreement and plan of merger (“Merger Agreement”), pursuant to which the Company’s shareholders stand to receive $23.05, $4.00 of which will be paid as a “special dividend,” in cash for each share of Parkway stock they own (the “Merger Consideration”), which represents a discount of 12% to the Company’s 52-week high of $26.20. The shareholder vote is expected to occur on September 25, 2017.

The complaint alleges that the Proxy Statement within a Schedule 14A form (the “Proxy”) filed with the Securities and Exchange Commission (“SEC”) on July 27, 2017, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company’s financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to Parkway shareholders.

Take Action

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from August 22, 2017.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.  If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact Nadeem Faruqi, Esq. either via e-mail at nfaruqi@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330 or James M. Wilson, Jr., Esq. at jwilson@faruqilaw.com.

Request Information

Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.

  • Company:
    Parkway, Inc. (PKY)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Nadeem Faruqi
James M. Wilson, Jr.
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 08/22/2017

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