CommonWealth REIT (NYSE: CWH) today announced that the Circuit Court for
Baltimore City (the "Court") referred to arbitration the pending
litigation in the Court brought by Corvex Fund Management LP ("Corvex")
and Related Fund Management, LLC's ("Related," and together with Corvex,
"Corvex/Related"). All remaining issues in the litigation between CWH
and Corvex/Related will be determined in the resulting arbitration. The
Court also ordered Corvex/Related to pay the Court's costs in connection
with its motions.
CommonWealth REIT is a real estate investment trust, or REIT, which
primarily owns office properties located throughout the United States.
CWH is headquartered in Newton, MA.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
CWH'S CURRENT EXPECTATIONS BUT THEY ARE NOT GUARANTEED TO OCCUR AND MAY
NOT OCCUR FOR VARIOUS REASONS, INCLUDING SOME REASONS BEYOND CWH'S
CONTROL. FOR EXAMPLE:
THIS PRESS RELEASE SAYS THE CURRENT MARYLAND LITIGATION HAS BEEN
REFERRED TO ARBITRATION. CORVEX/RELATED MAY APPEAL THIS DECISION AND
IT MAY BE SUBSEQUENTLY OVERTURNED.
THE FACT THAT THE COURT UPHELD CWH'S ARBITRATION BYLAW MAY IMPLY THAT
CWH WILL PREVAIL ON ALL ISSUES IN THE ARBITRATION. ARBITRATION RESULTS
ARE UNCERTAIN AND THERE CAN BE NO ASSURANCE THAT CWH WILL PREVAIL.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE
UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE.
EXCEPT AS MAY BE REQUIRED BY APPLICABLE LAW, CWH DOES NOT INTEND TO
UPDATE THE FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE AS A RESULT
OF NEW INFORMATION WHICH MAY COME TO ITS ATTENTION.
Carlynn Finn, 617-796-8222
Manager, Investor Relations
Innisfree M & A Incorporated
Miller/Jennifer Shotwell/Arthur Crozier
Timothy A. Bonang, 617-796-8222
Vice President, Investor
Joele Frank, Wilkinson Brimmer Katcher