Blackwells Capital Announces Lawsuit Against Global Net Lease Inc. and The Necessity Retail REIT Inc.
NEW YORK, Dec. 19, 2022 (GLOBE NEWSWIRE) — Blackwells Capital LLC (together with its affiliates “Blackwells” or “we”), today announced the filing of a complaint in Maryland state court against Global Net Lease Inc. (NYSE: GNL) (“Global Net Lease” or “GNL”) and The Necessity Retail REIT Inc. (NASDAQ: RTL) (“Necessity Retail REIT” or “RTL”). The lawsuit was filed in response to each company’s meritless rejection of Blackwells’ director candidate nominations.
Jason Aintabi, Chief Investment Officer of Blackwells, said “The Boards of GNL and RTL are grasping at straws to keep stockholders from having a voice in the direction of these public companies. By relying on a guileful interpretation of recent bylaw amendments, and by fabricating other pretexts to reject our valid nomination notices, these Boards seem to be acting only as marionettes to help AR Global with its sordid bidding.”