NEW YORK, NY / ACCESSWIRE / February 10, 2016 / Levi & Korsinsky, LLP is investigating whether the Board of Directors and/or certain officers of Ashford Hospitality Prime, Inc. (NYSE: AHP) violated their fiduciary duties to shareholders.
On February 2, 2016, Ashford Prime announced amendments to the partnership agreement for its operating partnership, Ashford Hospitality Prime Limited Partnership. This amendment will give new voting interests to owners of limited partnership units, who are mostly executives. As a result, Ashford Prime's Chief Executive and Chief Operating Officer will control approximately 13% of Ashford Prime's voting power. This change in voting rights comes ahead of a potential proxy fight with activist hedge fund Sessa Capital, which owns over 8% of Ashford Prime's shares and is seeking five board seats. Sessa contends that Ashford is plagued by conflict of interest transactions and poor corporate governance, and Ashford's creation of new voting rights will unfairly help the incumbent directors hold their positions. To obtain additional information go to: http://zlk.9nl.com/ashford-hospitality-ahp or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
SOURCE: Levi & Korsinsky, LLP