A federal court blessed a $7.1 million class settlement for Wheeler Real Estate Investment Trust shareholders, resolving allegations levied against directors and hedge funds of taking over the REIT and improperly diluting its common stock.
The settlement class includes those who held Wheeler common stock as of Aug. 16, 2021, or bought it from then through Sept. 20, 2023, under Judge Mark S. Davis’ final approval of the deal Wednesday in the US District Court for the Eastern District of Virginia. The investor leading the case, who was Wheeler’s CEO before allegedly being ousted, alleged Joseph Stilwell, principal ...
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