Shareholder Action Filed on Behalf of Apple REIT Ten Inc.
Kessler Topaz Meltzer & Check, LLP has filed a shareholder derivative action on behalf of Apple REIT Ten, Inc. (“Apple REIT Ten”) and its current shareholders.
About Apple REIT Ten
Apple REIT Ten is a public, non-traded real estate investment trust that owns income-producing real estate. On April 14, 2016, Apple REIT Ten announced that it had entered into a merger agreement with Apple Hospitality REIT, Inc. (“Apple Hospitality”). Under the proposed transaction, Apple REIT Ten shareholders will receive $1.00 in cash and fractional shares of Apple Hospitality in exchange for their Apple REIT Ten shares at the time of the merger.
Alleged Wrongful Conduct
The shareholder complaint alleges that the merger agreement with Apple Hospitality undervalues Apple REIT Ten, to the detriment of the company and its shareholders.
If you currently own shares of Apple REIT Ten and would like to learn more about this action, please fill out our online form or contact us today at (888) 299-7706.