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PHILADELPHIA, PA / ACCESSWIRE / November 30, 2021 / Kaskela Law LLC announces that it is investigating Lee Enterprises, Inc. ("Lee") (NASDAQ:LEE) on behalf of the company's shareholders.
On November 22, 2021, Lee disclosed that it had received an unsolicited acquisition proposal from Alden Global Capital, LLC ("Alden"), a 6% stockholder, to acquire the Company at a price of $24.00 per share. Following this news, shares of Lee's common stock increased in value from $18.73 per share to trade at over $25 per share.
Although Lee's Board of Directors indicated that it would "carefully review Alden's proposal to determine the course of action that it believes to be in the best interests of the Company and Lee shareholders," on November 24, 2021, the Board adopted a Poison Pill "in response" to Alden's proposal.
The investigation seeks to determine whether the members of Lee's Board of Directors have breached their fiduciary duties to the Company's stockholders in their response to Alden's proposal to acquire Lee at $24 per share.
Lee shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 - 1740, or by email (firstname.lastname@example.org) or online at https://kaskelalaw.com/cases/lee-enterprises-inc/ for additional investigation about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in state and federal actions throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
David Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Boulevard, Suite 100
Newtown Square, PA 19073
(888) 715 - 1740(484) 258 - 1585
SOURCE: Kaskela Law LLC