NEW YORK, March 15, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Extended Stay America, Inc. (“Extended Stay America” or the “Company”) (NASDAQ: STAY) in connection with the proposed acquisition of the Company and its paired-share REIT, ESH Hospitality, Inc., by funds managed by Blackstone Real Estate Partners and Starwood Capital Group. Under the terms of the merger agreement, Extended Stay America shareholders will receive $19.50 in cash for each share of Extended Stay America common stock that they hold. The transaction is valued at approximately $6 billion.
If you own Extended Stay America shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/STAY/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]
WeissLaw LLP is investigating whether Extended Stay America’s board acted in the best interest of Extended Stay America’s public shareholders in agreeing to the proposed transaction, whether the $19.50 merger consideration represents full and fair value for Extended Stay America shares, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to Extended Stay America’s public shareholders. Notably, at least one analyst set a price target of $21.00 for Extended Stay America, $1.50 higher than the proposed merger consideration.
WeissLaw LLP 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 WeissLaw LLP
