Market Overview

Robbins Geller Rudman & Dowd LLP Files Class Action Suit against Silver Bay Realty Trust Corporation


Geller Rudman & Dowd LLP
("Robbins Geller") today announced that
a class action has been commenced on behalf of former stockholders of
Silver Bay Realty Trust Corporation ("Silver Bay") (NYSE:SBY) who held
stock as of May 5, 2017, in connection with the acquisition of Silver
Bay by Tricon Capital Group Inc. ("Tricon") (the "Acquisition"). This
action was filed in the United States District Court for the District of
Minnesota and is captioned Schwartz v. Silver Bay Realty Trust
Corporation, et al.
, No. 17-1571.

If you wish to serve as lead plaintiff, you must move the Court no later
than 60 days from today. If you wish to discuss this action or have any
questions concerning this notice or your rights or interests, please
contact plaintiff's counsel, Darren
of Robbins Geller at 800/449-4900 or 619/231-1058, or via
e-mail at Any
member of the putative class may move the Court to serve as lead
plaintiff through counsel of their choice, or may choose to do nothing
and remain an absent class member.

The complaint charges Silver Bay, its Board of Directors (the "Board"),
Tricon and TAH Acquisition Holdings LLC ("TAH") with violations of the
Securities Exchange Act of 1934 ("1934 Act"). Silver Bay was a publicly
traded REIT that focused primarily on the acquisition, renovation,
leasing and management of single-family properties in several markets in
the United States. On May 5, 2017, Silver Bay shareholders approved the
Acquisition and it closed on May 9, 2017.

On February 27, 2017, Silver Bay and Tricon announced they had entered
into a definitive merger agreement under which Silver Bay would be
acquired by Tricon for $21.50 in cash for each share of Silver Bay
common stock held. The complaint alleges that in an attempt to encourage
and obtain shareholder support for the Acquisition, defendants filed and
disseminated to shareholders a materially false and misleading
Preliminary Proxy Statement on Schedule 14A on March 17, 2017, a
materially false and misleading Definitive Proxy Statement on Schedule
14A on March 28, 2017 (collectively the "Proxy"), and a materially false
and misleading Form 8-K (the "Proxy Supplement") on April 24, 2017.

According to the complaint, the Proxy and Proxy Supplement omitted
and/or misrepresented material information about Silver Bay's intrinsic
value. Specifically, the Proxy and Proxy Supplement omitted an internal
calculation of Silver Bay's net asset value ("NAV"). This omission was
particularly material because NAV is the benchmark metric used to value
REITs, and Silver Bay's internal NAV was likely much higher than the
unfair merger price of $21.50 per share. This omission rendered
statements in the Proxy and Proxy Supplement false and/or misleading in
violation of §§14(a) and 20(a) of the 1934 Act.

Plaintiff seeks damages and other relief on behalf of former holders of
Silver Bay stock as of May 5, 2017. The plaintiff is represented by
Robbins Geller, which has extensive experience in prosecuting investor
class actions including actions involving financial fraud.

Robbins Geller is widely recognized as the leading law firm advising and
representing U.S. and international investors in securities litigation
and portfolio monitoring. With 200 lawyers in 10 offices, Robbins Geller
has obtained many of the largest securities class action recoveries in
history. For the third consecutive year, the Firm ranked first in both
the total amount recovered for investors and the number of securities
class action recoveries in ISS's SCAS Top 50 Report. Robbins Geller
attorneys have shaped the law in the areas of securities litigation and
shareholder rights and have recovered tens of billions of dollars on
behalf of the Firm's clients. Robbins Geller not only secures recoveries
for defrauded investors, it also implements significant corporate
governance reforms, helping to improve the financial markets for
investors worldwide. Please visit for more information.

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