Cedar Realty Trust, Inc.

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Ademi LLP is investigating Cedar Realty (NYSE: CDR) for possible breaches of fiduciary duty and other violations of law in its series of transactions to sell all of Cedar Realty’s assets.

Ademi LLP alleges Cedar Realty’s financial outlook and prospects are excellent and yet Cedar Realty shareholders will receive only $29.00 per share. The merger agreement and various other asset purchase agreements unreasonably limit competing bids for Cedar Realty by prohibiting solicitation of further bids, and imposing a significant penalty if Cedar Realty accepts a superior bid. Cedar Realty insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Cedar Realty’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Cedar Realty.