Veris Residential shareholder Kushner responds to Veris Board statement

Veris Residential shareholder Kushner sent a response to Veris’ Board of Directors following their update on discussions with Kushner Companies: The press release states, among other things: "…Despite Veris’ repeated efforts to cast doubt on the credibility of our proposals, for the past several months Kushner has sought to work collaboratively with Veris. During this period, we have raised our offer price on multiple occasions, yet at no point has Veris provided any counterproposal, nor indicated a range of values at which it would be prepared to transact..Our financing partners, which the Board and its advisors know very well and have worked with extensively, forcefully reiterated their full commitment to the financing of our bid…Since that day, Kushner and its financing partners have worked diligently to finalize a potential confidentiality and standstill agreement with Veris that would provide us access to non-public information…After the January 13 video conference, a significant Veris shareholder filed a 13D amendment, disclosing that on January 12 that shareholder had met with the Veris nominating and corporate governance committee and requested representation on the Veris board…Since learning of that SEC filing, we have been evaluating the implications of this development. We have expressed to Veris on multiple occasions that we were continuing to assess the impact of this development before deciding on next steps. ..The actions taken by the Veris board today eroded shareholder value, with the stock plummeting to below $15.00 in after hours trading, and reinforced our longstanding concern that the Veris board is entrenched, and does not want to engage in good faith in discussions regarding a transaction that would result in a loss of its-and its chosen high-priced management team’s-perks. Meanwhile, the Veris board has permitted insider share purchases and made new equity grants, despite being engaged in M&A discussions. Veris shareholders deserve a Board that recognizes its responsibilities, acts on its words, and engages in serious and transparent processes to achieve value for its shareholders. Unfortunately, Veris’ current Board has shown neither the ability nor the willingness to so engage".