MONSEY, New York, April 08, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the price of $39.12 per share in cash for which Apartment Income REIT Corp. (NYSE: AIRC) (AIRC) has agreed to be sold to Blackstone (NYSE:BX). The sales price is below the price targets for AIRC of at least two Wall Street analysts (source: TipRanks).
If you remain an AIRC shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/apartment-income-reit-corp/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On April 8, 2024, AIRC announced that it had agreed to be sold to Blackstone for $39.12 per share in cash.
We are investigating whether the AIRC Board of Directors acted in the best interests of AIRC shareholders in approving the sale, explained Joshua Fruchter, a founding partner of Wohl & Fruchter. This includes whether the price agreed upon is fair to AIRC shareholders, as well as whether all material information regarding the transaction has been fully disclosed.
Notably, according to TipRanks, the sales price is below the price target of (i) $42.00 of John Kim of BMO Capital, and (ii) $36.00 of Anthony Paolone of J.P. Morgan.
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com