Campus Crest Communities Inc (NYSE:CCG) Shareholder Alert: Lawsuit Against Takeover

A lawsuit was filed for shareholders in shares of Campus Crest Communities Inc (NYSE:CCG) in connection with the proposed takeover was announced and NYSE:CCG stockholders should contact the Shareholders Foundation.

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San Diego, CA -- (SBWire) -- 12/09/2015 --The Shareholders Foundation announced that a shareholder who currently holds shares of Campus Crest Communities Inc (NYSE:CCG) filed a lawsuit against the takeover of Campus Crest Communities Inc by Harrison Street Real Estate Capital, LLC.

Investors who purchased shares of Campus Crest Communities Inc (NYSE:CCG) and currently hold any of those NYSE:CCG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CCG stockholders by agreeing to sell Campus Crest Communities Inc too cheaply via an unfair process to affiliates of Harrison Street Real Estate Capital, LLC.

On October 16, 2015, Campus Crest Communities Inc (NYSE:CCG) announced that it has entered into a merger agreement with affiliates of Harrison Street Real Estate Capital, LLC pursuant to which Harrison Street will acquire all issued and outstanding shares of common stock of Campus Crest Communities Inc (NYSE:CCG) in a transaction involving total estimated merger consideration of $7.03 per share, which amount includes net sale proceeds currently estimated to be valued at up to $0.13 per share (based on current exchange rates) from the separate sale of the Company's ownership interest in its evo Montreal joint venture.

However, the plaintiff claims that the proposed consideration NYSE:CCG shareholders will receive is grossly inadequate and undervalues Campus Crest Communities Inc. Indeed, at least one analyst has set the high target price for NYSE:CCG shares at $8.00 per share. Furthermore, Campus Crest Communities Inc reported that its annual Total Revenue rose from $74.65 million in 2012 to $106.74 million in 2014.

Shares of Campus Crest Communities Inc (NYSE:CCG) closed on December 7, 2015, at $6.74 per share.

Those who are current investors in Campus Crest Communities Inc (NYSE:CCG) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

Media Relations Contact

Michael Daniels
General Manager
Shareholders Foundation
858-779-1554
http://www.ShareholdersFoundation.com

View this press release online at: http://rwire.com/647907