Apple Hospitality REIT Shareholder's Class Action Tossed

How much longer?
Post Reply
JrzyGirl
Posts: 10
Joined: Sat Jun 11, 2011 8:58 pm

Apple Hospitality REIT Shareholder's Class Action Tossed

Post by JrzyGirl » Mon Jun 01, 2015 3:11 pm

Not a subscriber, so this is all the free content I could pull down:

Apple Hospitality REIT Shareholder's Class Action Tossed

By Ben Conarck
Law360, New York (June 01, 2015, 4:37 PM ET) -- A Virginia federal judge dismissed a shareholder’s putative class action alleging Apple Hospitality REIT Inc. directors set artificially high prices in a dividend reinvestment program, ruling that the program worked as designed and the lawsuit failed to properly plead any of its six class claims.

Shareholder Dorothy Wenzel’s amended complaint — which alleges breach of contract, fraud and negligence, among other things — failed to state a claim, U.S. District Judge John A. Gibney ruled, saying that the facts make clear that the program, known as...

Post Reply