SOURCE: Brower Piven, A Professional Corporation

March 02, 2011 17:33 ET

Brower Piven Announces Class Action Lawsuit in Connection With the Acquisition of Nationwide Health Properties by Ventas, Inc.

STEVENSON, MD--(Marketwire - March 2, 2011) - The law firm of Brower Piven, A Professional Corporation, the largest and most active plaintiffs securities litigation firm headquartered in Maryland, announces that a class action lawsuit has been commenced in the California Superior Court of Orange County on behalf of all shareholders of Nationwide Health Properties ("NHP" or "Company") (NYSE: NHP).

On February 28, 2011, NHP, a Maryland company and a publicly traded real estate investment trust (REIT), and its Board of Directors were named as defendants in a class action lawsuit in connection to the Agreement and Plan of Merger signed on February 27, 2011 for NHP to be acquired by Ventas, Inc. ("Ventas") (NYSE: VTR). The complaint states that, under the terms of the merger agreement, NHP shareholders will receive 0.7866 Ventas shares for each share of NHP common stock held. The complaint alleges, among other things, that the Company's directors breached their fiduciary duties by approving the proposed merger transaction between the Company and Ventas because the proposed transaction would not maximize shareholder value and would allegedly provide the directors personal benefits not shared by NHP's shareholders.

If you are a current owner of shares of NHP, you may obtain additional information about this lawsuit by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Brower Piven is a Maryland-based firm that is knowledgeable of the Maryland legal standards that will apply in seeking to protect shareholders' rights. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact