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The Boston Globe


CommonWealth REIT goes ahead with stock sale

A Newton real estate company was allowed to proceed with a stock sale Tuesday despite objections from activist investors who have accused the company’s trustees of issuing shares to allies in order to block management changes.

The ruling by a US District Court judge in Boston marks the first stage of what is expected to be a long fight over control of CommonWealth REIT, as ­investors have launched multiple lawsuits accusing company managers of manipulating operations to enrich themselves at the expense of shareholders.

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