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News Breaks | | | | March 5, 2013 | | 05:36 EDT |  | CWH | CommonWealth REIT announces that motions for temporary restraining orders denied
CommonWealth REIT announced that rulings by the United States District Court for the District of Massachusetts issued after the market close on March 4 denied two separate motions which sought to enjoin the closing of CommonWealth's recent equity offering. The motions had been filed by Corvex Management and Related Fund Management and Delaware County Employees Retirement Fund. Among other reasons for denying both motions, the court found that Corvex/Related and Del-Co failed to meet their burden of showing there was a likelihood that the claims asserted by them regarding the share issuance would succeed. The recent CommonWealth equity offering of 34.5M shares is expected to close, March 5. | |
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News For CWH From The Last 14 Days Check below for free stories on CWH the last two weeks. |
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| May 15, 2013 | | 12:59 EDT | | CWH | Corvex, Related comment on result of CommonWealth annual meeting
 Subscribe for More Information | | | 09:04 EDT | | CWH | CommonWealth says Morea failed re-election as trustee, accepts appointment
CommonWealth REIT announced the results of its annual meeting, held yesterday. Joseph Morea received less than the majority of shares required to be re-elected as an Independent Trustee. As a result, Morea resigned from the Board. "The Board determined that the insufficient vote for Mr. Morea appeared not to be directed at any personal failings of Mr. Morea, but rather to be the result of the positions taken by the Board to oppose the hostile takeover efforts being pursued by Corvex Management LP and Related Fund Management, LLC. In these circumstances, and because the Board’s determination that Mr. Morea’s continued service and leadership would be in the Trust’s best interest, the Board requested that Mr. Morea accept appointment to the vacancy created by his resignation," the company said. Morea subsequently accepted appointment as an Independent Trustee. Shareholders also approved, with 75% of all shares voted, a nonbinding, advisory proposal approving the compensation paid to CWH’s named executive officers and approved, with 81% of all shares voted, the ratification of the appointment of Ernst & Young LLP as CWH’s independent registered public accounting firm. | |
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