Andrews & Springer, a boutique securities class action law firm focussed on representing shareholders nationwide, has filed a class action in the Maryland Circuit Court for Baltimore City against the Board of Directors of American Realty Capital Healthcare Trust ("ARCH" or the "REIT") for alleged breaches of fiduciary duties in connection with the proposed acquisition of the REIT by Ventas, Inc. ("Ventas").
The Complaint alleges, among other things, that ARCH's affiliated advisor, American Realty Capital Healthcare Advisors, LLC (a direct and wholly owned subsidiary of ARCH), will receive an undisclosed percentage of compensation from the sale. The pleading also alleges that American Realty Capital Healthcare Special Limited Partnership, LLC ("ARC SLP") (a direct and wholly-owned subsidiary of American Realty Capital), is expected to receive consideration that ARCH shareholders are not expected to receive. A copy of the complaint can be accessed here.