Zeldes & Haeggquist, LLP Announces Investigation of Fisher Communications,
Inc.’s Acquisition by Sinclair Broadcast Group, Inc.
SAN DIEGO -- April 22, 2013
Zeldes & Haeggquist, LLP, a shareholder and consumer rights litigation firm,
has commenced an investigation into possible legal claims against the Board of
Directors of Fisher Communications, Inc. (“Fisher”) (NASDAQ: FSCI). The
investigation concerns possible breaches of fiduciary duties and other
violations of law related to Fisher’s entry into an agreement to be acquired
by Sinclair Broadcast Group, Inc. (“Sinclair”) (NASDAQ: SBGI).
Seattle-based Fisher is a media company which owns 20 Pacific Northwest-area
television stations and three Seattle-area radio stations. On April 11, 2013,
Sinclair announced its acquisition of Fisher. The deal is valued at
approximately $373 million.
Zeldes & Haeggquist’s investigation concerns whether Fisher’s Board of
Directors failed to adequately shop Fisher to obtain the best possible value
for its shareholders before entering into an agreement with Sinclair. Under
the terms of the proposal, public shareholders of Fisher will receive $41 per
share in cash. Analysts note that although Sinclair has generated positive
cash flow over the years, it has a weak balance sheet with negative equity. To
acquire Fisher, Sinclair will have to incur more debt, resulting in an even
weaker balance sheet.
If you own stock of Fisher and purchased your shares before April 11, 2013,
and would like additional information regarding this investigation, or if you
have information regarding the matters under investigation, please contact
attorney Aaron M. Olsen or Amber L. Eck at 619-342-8000, or by email at
email@example.com or firstname.lastname@example.org.
Zeldes & Haeggquist is a full-service law firm which brings major class
actions nationwide on behalf of defrauded investors and consumers and handles
a variety of complex business litigation matters. Please visit www.zhlaw.com
or our blog for more information about the firm.
Zeldes & Haeggquist, LLP
Aaron M. Olsen, email@example.com
Amber L. Eck, firstname.lastname@example.org
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