NTS Realty Holdings Limited Partnership

NTS Realty Holdings Limited Partnership

UPDATE: On April 24, 2014, a fairness hearing on the settlement was held, and the Jefferson County Circuit Court of the Commonwealth of Kentucky entered an order approving the settlement as fair, reasonable and adequate, and in the best interests of the class.

UPDATE: On February 5, 2014, the Jefferson County Circuit Court of the Commonwealth of Kentucky entered an order preliminarily approving the settlement announced on December 11, 2013.

UPDATE: On December 11, 2013, a proposed settlement of the class action was announced under which, among other conditions, minority unitholders would receive a cash payment of $9.25 per unit, less any attorneys’ fees and expenses awarded by the Court.

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UPDATE: On February 12, 2013, a class action complaint was filed on behalf of the minority public unitholders of NTS Realty Holdings Limited Partnership challenging the entire fairness of a proposed going-private squeeze-out merger by NTS’s controlling unitholder and Chairman, Defendant Jack Dale Nichols.

The complaint alleges that Nichols' proposed transaction grossly undervalues NTS’s units under both an asset-based and income-based analysis.

ORIGINAL: We are investigating a proposal to acquire all of the outstanding publicly-held limited partnership interests of NTS Realty Holdings Limited Partnership (NYSE: NLP) submitted by NLP’s founder and Chairman, J.D. Nichols, and CEO, Brian Lavin.

On August 31, 2012, the board of directors of NLP’s managing general partner announced that it had received a non-binding proposal from Messrs. Nichols and Lavin to acquire all of the publicly-held limited partnership interests of the Company for $5.25 per unit in cash. As of June 30, 2012, Mr. Nichols beneficially owned approximately 61.7% of the outstanding limited partnership units of NLP.

Our investigation concerns the fairness of the buyout proposal, and the adequacy of the procedures adopted by NLP in response to the proposal.

Persons with relevant information, and NLP unitholders with questions about this investigation, are invited to contact our Firm at 866.582.8140, or the attorney below.

Contact

J. Elazar Fruchter
845.425.4658