SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Regarding Whether the Sale of Chesapeake Lodging Trust to Park Hotels & Resorts Inc. is Fair to Shareholders
NEW YORK, May 06, 2019 (GLOBE NEWSWIRE) -- NEW YORK, May 6, 2019 - The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased Chesapeake Lodging Trust (“Chesapeake” or the “Company”) (NYSE: CHSP) stock prior to May 6, 2019.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Chesapeake to Park Hotels & Resorts Inc. (NYSE: PK). Under the terms of the transaction, Chesapeake shareholders will receive $11.00 in cash and 0.628 of a share of Park Hotels & Resorts stock for each Chesapeake share they own; based on the closing price of Park Hotels & Resorts on May 3, 2019, this represents a value of approximately $31.71 per share. To learn more about the action and your rights, go to:
https://www.zlk.com/mna/chesapeake-lodging-trust
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The Chesapeake merger investigation concerns whether the Board of Chesapeake breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Park Hotels & Resorts Inc. is underpaying for Chesapeake shares, thus unlawfully harming Chesapeake shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
