Patricia Fox ("Plaintiff") brought this lawsuit on behalf of all
holders of Prime Group Realty Trust's ("PGRT") Series B Cumulative
Redeemable Preferred Stock ("Series B Shares") during
the period October 10, 2011 through December 26, 2012 (the "Class
Period"), inclusive (the "Class"), against PGRT's officers, certain
members of its Board of Trustees, and Fiee Capital Partners, LLC
("Five Mile"), and certain of its affiliates
The Court has approved a settlement of $8.25
million. U.S. District Judge Matthew F. Kennelly also awarded the
plaintiffs $2.75 million for attorneys' fees, reimbursed class
counsel $393,320 for expenses, and approved a $10,000 service award
for lead plaintiff and former Prime Group Realty Trust shareholder
Patricia Fox for her efforts on behalf of the class.
A copy of the Settlement Notice and Claim Form are available at
www.primegrouprealtytrustlitigation.com or you
can download here.
Plaintiff claims that Defendants breached their fiduciary
duties to Plaintiff and the Class by transferring control of PGRT
to Five Mile and forcing Plaintiff and the Class to surrender their
Series B Shares for inadequate compensation. Plaintiff also
claims that Five Mile was unjustly enriched by Defendants'
On October 10, 2011, PGRT agreed to sell voting control of
the company to Five Mile by selling newly-issued common shares to
Five Mile. Prior to such sale, PGRT had no publicly-issued
common shares and the Series B Shares were PGRT's only
publicly-issued shares. On December 26, 2012, PGRT and Five
Mile merged, forcing a cash-out of the Series B
A more complete description of Plaintiff's claims is set
forth in her Amended Complaint and the Court's Order issued on May
10, 2013, which granted in part and denied in part Defendants'
motion to dismiss Plaintiff's Amended Complaint. Both documents are
available in the "Related Links" section of this page.
Following the Court's ruling on Defendants' motions to
dismiss, the Court, by an Order issued on April 22,
2014, granted Plaintiff's motion to certify the Class and
appointed Plaintiff as Class representative and Plaintiff's counsel
Berger & Montague, P.C., Krislov & Associates, Ltd., and
the Law Office of Gerald W. Berger as counsel for the Class. The
Court's Order is available in the "Related Links" section of this