An investigation on behalf of investors in Ashford Hospitality Prime Inc (NYSE:AHP) shares over potential wrongdoing at Ashford Hospitality Prime was announced and NYSE:AHP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/08/2016 -- A shareholder of Ashford Hospitality Prime Inc (NYSE:AHP) filed a lawsuit in Maryland against certain directors of Ashford Hospitality Prime Inc for allegedly modifying its rules to impose a hefty and under Maryland law allegedly illegal termination fee that effectively bars shareholders from ousting the current leadership.
Investors who purchased shares of Ashford Hospitality Prime Inc (NYSE:AHP) and currently hold any of those NYSE:AHP shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff claims that certain directors of Ashford Hospitality Prime Inc breached their fiduciary duties owed to NYSE:AHP stockholders by implemented a change-in-control provision in its agreement with its external asset manager Ashford Inc. that would pay Ashford Inc roughly half the trust's current market. More specifically, the plaintiff alleges that certain directors have taken actions that potentially penalize Ashford Hospitality Prime Inc financially by obligating it to pay its asset manager Ashford Inc, which is controlled by certain of the Director Defendants, an amount estimated to be in the range of $150 million, if shareholders elect a majority of new directors other than those certain directors or candidates approved by those certain directors. The plaintiff says that it was necessary to file the lawsuit to ensure that shareholders of Ashford Hospitality Prime Inc are able to vote for director candidates of their choosing without coercion from those certain directors.
Those who purchased shares of Ashford Hospitality Prime Inc (NYSE:AHP), have certain options and should contact the Shareholders Foundation.
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