Extended Stay America, Inc.
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STAY MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF EXTENDED STAY AMERICA, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – STAY
March 15, 2021.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Extended Stay America, Inc. (NASDAQ: STAY) to a joint venture between funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital Group (“Starwood Capital”) for $19.50 per share in cash is fair to Extended Stay shareholders.
The investigation concerns whether Extended Stay and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Extended Stay shareholders; (2) determine whether Blackstone and Starwood Capital are underpaying for Extended Stay; and (3) disclose all material information necessary for Extended Stay shareholders to adequately assess and value the merger consideration. On behalf of Extended Stay shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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