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CommonWealth REIT : Maryland State Court Upholds CommonWealth REIT's Arbitration Bylaw

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05/08/2013 | 11:35pm CET

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.

Investors
CommonWealth REIT
Carlynn Finn, 617-796-8222
Senior Manager, Investor Relations
or
Innisfree M & A Incorporated
Larry Miller/Jennifer Shotwell/Arthur Crozier
212-750-5833
or
Media
CommonWealth REIT
Timothy A. Bonang, 617-796-8222
Vice President, Investor Relations
or
Joele Frank, Wilkinson Brimmer Katcher
Andrew Siegel/Jonathan Keehner
212-355-4449


© Business Wire 2013
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Financials ($)
Sales 2017 341 M
EBIT 2017 62,1 M
Net income 2017 -
Debt 2017 -
Yield 2017 -
P/E ratio 2017 73,34
P/E ratio 2018 158,26
Capi. / Sales 2017 10,9x
Capi. / Sales 2018 13,2x
Capitalization 3 731 M
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Number of Analysts 4
Average target price 32,8 $
Spread / Average Target 8,9%
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David A. Helfand President, Chief Executive Officer & Trustee
Samuel Zell Chairman
David S. Weinberg Chief Operating Officer & Executive Vice President
Adam Scott Markman Chief Financial Officer, Treasurer & Executive VP
James Scott Corl Independent Trustee
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