Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Lodgian, Inc. ("Lodgian" or the "Company") (NYSE:LGN) related to the Company's definitive agreement to be acquired by an affiliate of Lone Star Funds ("Lone Star"). The all-cash transaction is valued at approximately $270 million, including assumed debt.
Under the terms of the Agreement and Plan of Merger entered into by the parties, Lone Star will acquire all of the outstanding common stock of Lodgian for $2.50 per share in cash. The transaction is expected to close during the second quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the merger agreement by the Lodgian board of directors.
If you own shares of Lodgian, Inc., if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
