An investigation on behalf of investors of AirMedia Group Inc (ADR) (NASDAQ:AMCN) in connection with the proposed takeover was announced and NASDAQ:AMCN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/27/2015 -- An investigation for shareholders in NASDAQ:AMCN was announced concerning whether the takeover of AirMedia Group Inc by AirMedia Holdings Ltd is unfair to NASDAQ:AMCN stockholders.
Investors who purchased shares of AirMedia Group Inc (ADR) (NASDAQ:AMCN) and currently hold any of those NASDAQ:AMCN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of AirMedia Group Inc breached their fiduciary duties owed to NASDAQ:AMCN investors in connection with the proposed acquisition.
On September 30, 2015, AirMedia Group Inc (ADR) (NASDAQ:AMCN) announced that it has entered into an agreement and plan of merger with AirMedia Holdings Ltd. and AirMedia Merger Company Limited, a wholly owned subsidiary of AirMedia Holdings Ltd, pursuant to which AirMedia Holdings Ltd will acquire AirMedia Group Inc (ADR) (NASDAQ:AMCN) for US$3.00 per ordinary share of the Company or US$6.00 per American depositary share, each representing two Shares (an "ADS").
However, given that at least one analyst has set the high target price for NASDAQ:AMCN shares at $6.90 per share and given that NASDAQ:AMCN shares traded as recently as June 2015 in the open market as high as $7.34 per share, the investigation concerns whether the offer is unfair to NASDAQ:AMCN stockholders. More specifically, the investigation concerns whether the AirMedia Group Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On October 26, 2015, NASDAQ:AMCN shares closed at $5.42 per share.
Those who are current investors in AirMedia Group Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com