SPG Stock – Kaskela Law LLC Announces Investigation of Extended Stay America (STAY) Following Agreement to Sell the Company for $19.50 Per Share
PHILADELPHIA, March 31, 2021 (GLOBE NEWSWIRE) — Kaskela Law LLC announces that it is investigating the Board of Directors of Extended Stay America, Inc. (“ESA”) (NASDAQ: STAY) on behalf of ESA’s shareholders.
On March 15, 2021, ESA announced that it had entered into an agreement to be acquired by funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital Group (“Starwood”) for $19.50 per share. Notably, shares of ESA’s common stock have traded as high as $20.00 per share following the announcement of the proposed transaction. Following the closing of the proposed transaction, shares of ESA’s common stock will no longer be publicly traded.
The investigation seeks to determine whether the proposed $19.50 per share provides sufficient consideration to ESA’s shareholders, and whether ESA’s officers and/or directors violated the securities laws or breached their fiduciary duties in agreeing to sell the company to Blackstone and Starwood.
ESA shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by email at [email protected] or online at https://kaskelalaw.com/case/extended-stay-america-inc/, for additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Boulevard, Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
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