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 Shares Announced by Shareholders Foundation - EconoTimes)
SAN DIEGO, Feb. 16, 2016 -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Maryland by a current investor in Ashford Hospitality Prime Inc (NYSE:AHP) against certain directors of Ashford Hospitality Prime Inc for allegedly modifying its rules to impose a hefty and under Maryland law allegedly illegal termination fee that effectively bars shareholders from ousting the current leadership.
Investors who purchased shares of Ashford Hospitality Prime Inc (NYSE:AHP) long-term and currently hold any of those (NYSE:AHP) shares have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
The plaintiff claims that certain directors of Ashford Hospitality Prime Inc breached their fiduciary duties owed to (NYSE:AHP) stockholders by implemented a change-in-control provision in its agreement with its external asset manager Ashford Inc. that would pay Ashford Inc roughly half the trust’s current market. More specifically, the plaintiff alleges that certain directors have taken actions that potentially penalize Ashford Hospitality Prime Inc financially by obligating it to pay its asset manager Ashford Inc, which is controlled by certain of the Director Defendants, an amount estimated to be in the range of $150 million, if shareholders elect a majority of new directors other than those certain directors or candidates approved by those certain directors. The plaintiff says that it was necessary to file the lawsuit to ensure that shareholders of Ashford Hospitality Prime Inc are able to vote for director candidates of their choosing without coercion from those certain directors.
Those who purchased Ashford Hospitality Prime Inc (NYSE:AHP) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at [email protected] or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 [email protected] 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
