STEVENSON, Md.--(BUSINESS WIRE)--
The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of LIN Media LLC (“LIN” or the “Company”) (MEG) and other violations of state law by the board of directors of LIN relating to the proposed buyout of the Company by Media General, Inc. (“Media General”).
Under the terms of the transaction, LIN shareholders can elect to receive $27.82 in cash or 1.5762 shares of the new holding company for each share of LIN they own. According to Yahoo! Finance, at least one analyst following LIN has set a target price of $32.00 per share.
The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Media General is underpaying for LIN shares.
If you currently own common stock of LIN and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, click here: http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.
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Charles J. Piven, 410-415-6616