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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of LaSalle Hotel Properties (NYSE: LHO) to Blackstone Real Estate Partners VIII. Under the terms of the transaction, LaSalle shareholders will receive $33.50 for each share of LaSalle stock they own.
The investigation concerns whether the Board of LaSalle breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Blackstone Real Estate Partners VIII is underpaying for LaSalle shares, thus unlawfully harming LaSalle shareholders.
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