Energy News / Shareholders Foundation, Inc.

NASDAQ:AFIN Investor Alert: Lawsuit Filed Against Acquisition of American Finance Trust

Via: ReleaseWire

Updated 11:00 AM CDT, Wed, August 08,2018

A lawsuit was filed for investors in shares of American Finance Trust, Inc. (NASDAQ: AFIN) in connection with the proposed takeover and NASDAQ: AFIN stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 08/08/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of American Finance Trust, Inc. (NASDAQ: AFIN), was announced concerning whether the takeover of American Finance Trust, Inc.

Investors who purchased shares of American Finance Trust, Inc. (NASDAQ: AFIN) and currently hold any of those NASDAQ: AFIN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: AFIN stockholders by agreeing to sell American Finance Trust, Inc. cheaply via an unfair process.

On Aug. 1, 2018, American Finance Trust, Inc. ("AFIN") announced that its board of directors recommends that AFIN's stockholders reject the latest unsolicited mini-tender offer launched by MacKenzie Realty Capital, Inc. and certain of its affiliates (collectively, "MacKenzie") to purchase up to 400,000 shares of each class of AFIN's common stock.

However, plaintiff claims that the proposed consideration NASDAQ: AFIN shareholders will receive is grossly inadequate and undervalues American Finance Trust

he investigation concerns whether the offer is unfair to NASDAQ: AFIN stockholders. More specifically, the investigation concerns whether the American Finance Trust Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of American Finance Trust, Inc. (NASDAQ: AFIN) closed on August 3, 2018, at $ per share.

Those who are current investors in American Finance Trust, Inc. (NASDAQ: AFIN) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqafin-investor-alert-lawsuit-filed-against-acquisition-of-american-finance-trust-1025390.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com