NEW YORK, April 23, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of LIN Media LLC ("LIN Media" or the "Company") (NYSE:LIN) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Media General, Inc. A complaint was filed in Delaware state court.
Click here to learn more about the investigation http://zlk.9nl.com/lin-media-lin, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, LIN Media shareholders may elect to receive $27.82 in cash or 1.5762 shares of the new holding company for each share of LIN Media stock they own. The claims concern whether the LIN Media Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Media General, Inc. is underpaying for LIN Media shares. In particular, at least one analyst set a price target for LIN Media stock at $32.00 per share.
If you own LIN Media common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/lin-media-lin.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.