The law firm of Wohl & Fruchter LLP has commenced an investigation into a proposal to acquire all of the outstanding publicly-held limited partnership interests of NTS Realty Holdings Limited Partnership (NYSE: NLP) submitted by NLP’s founder and Chairman, J.D. Nichols, and CEO, Brian Lavin.
On August 31, 2012, the board of directors of NLP’s managing general partner announced that it had received a non-binding proposal from Messrs. Nichols and Lavin to acquire all of the publicly-held limited partnership interests of the Company for $5.25 per unit in cash. As of June 30, 2012, Mr. Nichols beneficially owned approximately 61.7% of the outstanding limited partnership units of NLP.
Wohl & Fruchter’s investigation concerns the fairness of the buyout proposal, and the adequacy of the procedures adopted by NLP in response to the proposal.
Additional information is available at http://www.wohlfruchter.com/cases/nlp.
Persons with relevant information, and NLP unitholders with questions about this investigation, are invited to contact our Firm at 866.582.8140, or the attorney below.
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Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
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