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Stock Market & Financial Investment News

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March 15, 2013
06:46 EDTCWHCorvex amends complaint against CommonWealth REIT
Corvex Management and Related Fund Management announced that in order to facilitate their previously announced solicitation of written consents from the shareholders of Commonwealth REIT to remove the entire board of trustees, they are amending their complaint pending in Maryland State Court against CWH, its board, including Barry M. Portnoy, Adam D. Portnoy, Joseph L. Morea, William A. Lamkin and Frederick N. Zeytoonjian, and its external manager, Reit Management & Research. Pursuant to the amended complaint, Corvex and Related are seeking that the Court declare null and void various bylaw amendments that the board has implemented to attempt to restrict shareholders' ability to act by written consent. Corvex and Related strongly believe such bylaw provisions implemented by the board are in clear contravention of CWH's charter, which expressly grants all shareholders the right to act by written consent. Corvex and Related are also filing in Maryland State Court a motion for partial summary judgment on this matter.
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