Ademi LLP is investigating National Storage Affiliates (NYSE: NSA) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Public Storage.
In the transaction, National Storage Affiliates stockholders will receive 0.14 of a share of PSA common stock or partnership units for each NSA share or unit they own, representing a total consideration of $41.68 per share based on PSA’s closing share price on March 13, 2026.
National Storage Affiliates insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for National Storage Affiliates by imposing a significant penalty if National Storage Affiliates accepts a competing bid. We are investigating the conduct of the National Storage Affiliates board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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