(DOWNLOAD) "In Re Rockefeller Center Properties Inc." by Third Circuit U.S. Court Of Appeals ~ Book PDF Kindle ePub Free
eBook details
- Title: In Re Rockefeller Center Properties Inc.
- Author : Third Circuit U.S. Court Of Appeals
- Release Date : January 19, 1999
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 77 KB
Description
This securities appeal arises from the acquisition of Rockefeller Center Properties, Inc. by a group of investors led by Whitehall Street Real Estate Limited Partnership V. Plaintiffs are former Rockefeller Center Properties, Inc. shareholders who allege the proxy statement and other documents prepared in connection with the acquisition were materially misleading because they failed to disclose (1) that the Whitehall Group was negotiating to sell roughly 20% of Rockefeller Center to General Electric following the acquisition and (2) that, as a result of the acquisition, the Whitehall Group would own transferable development rights (air rights) associated with Rockefeller Center.*fn1 The District Court granted defendants summary judgment on both claims, holding the failure to disclose such negotiations and the acquisition of development rights was not material. We will vacate and remand its grant of summary judgment on plaintiffs' sale negotiations claim but will affirm the grant of summary judgment on the transferable development rights claim.