NEW YORK, Aug. 15, 2022 /PRNewswire/ — Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Safehold Inc. (“Safehold” or the “Company”) (NYSE: SAFE) in connection with the proposed merger of the Company with iStar Inc. (“iStar”) (NYSE: STAR). Prior to the closing of the transaction, iStar will undergo a reverse stock split to reduce the number of iStar shares outstanding to be equal to the number of Safehold shares owned by iStar prior to the merger. Upon closing, the shares of Safehold owned by iStar will be retired and each share of Safehold not owned by iStar will be exchanged for one share of common stock of the newly combined company, New Safehold. Safehold shareholders are expected to own only approximately 34% of New Safehold while iStar shareholders are expected to own approximately 37% of New Safehold directly, and 14% indirectly as a result of the spin-off transaction.
If you own Safehold shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Weiss Law is investigating whether (i) Safehold’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Safehold’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
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SOURCE Weiss Law