Maryland State Court Upholds CommonWealth REIT’s Arbitration Bylaw
NEWTON, Mass.--(BUSINESS WIRE)-- CommonWealth REIT (CWH) today announced that the Circuit Court for Baltimore City (the Court) referred to arbitration the pending litigation in the Court brought by Corvex Fund Management LP (Corvex) and Related Fund Management, LLCs (Related, and together with Corvex, Corvex/Related). All remaining issues in the litigation between CWH and Corvex/Related will be determined in the resulting arbitration. The Court also ordered Corvex/Related to pay the Courts costs in connection with its motions.
CommonWealth REIT is a real estate investment trust, or REIT, which primarily owns office properties located throughout the United States. CWH is headquartered in Newton, MA.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON CWHS CURRENT EXPECTATIONS BUT THEY ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, INCLUDING SOME REASONS BEYOND CWHS CONTROL. FOR EXAMPLE:
- THIS PRESS RELEASE SAYS THE CURRENT MARYLAND LITIGATION HAS BEEN REFERRED TO ARBITRATION. CORVEX/RELATED MAY APPEAL THIS DECISION AND IT MAY BE SUBSEQUENTLY OVERTURNED.
- THE FACT THAT THE COURT UPHELD CWHS ARBITRATION BYLAW MAY IMPLY THAT CWH WILL PREVAIL ON ALL ISSUES IN THE ARBITRATION. ARBITRATION RESULTS ARE UNCERTAIN AND THERE CAN BE NO ASSURANCE THAT CWH WILL PREVAIL.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE. EXCEPT AS MAY BE REQUIRED BY APPLICABLE LAW, CWH DOES NOT INTEND TO UPDATE THE FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE AS A RESULT OF NEW INFORMATION WHICH MAY COME TO ITS ATTENTION.
Carlynn Finn, 617-796-8222
Senior Manager, Investor Relations
Innisfree M & A Incorporated
Larry Miller/Jennifer Shotwell/Arthur Crozier
Timothy A. Bonang, 617-796-8222
Vice President, Investor Relations
Joele Frank, Wilkinson Brimmer Katcher
Andrew Siegel/Jonathan Keehner
Source: CommonWealth REITCopyright Business Wire 2013