Fisher Communications, Inc. (FSCI) Investor Lawsuit to Stop Takeover by
Sinclair Broadcast Group Announced by Shareholders Foundation
SAN DIEGO, April 22, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation,
Inc. announces that an investor, who holds shares of Fisher Communications,
Inc. (FSCI), filed a lawsuit to stop the proposed takeover of Fisher
Communications, Inc. by Sinclair Broadcast Group, Inc. for $41.00 per FSCI
Investors who purchased shares of Fisher Communications, Inc. (FSCI) prior to
April 11, 2013 and currently hold any of those FSCI shares, have certain
options and should contact the Shareholders Foundation, Inc. at
email@example.com or call +1 (858) 779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties by
agreeing to sell the company too cheaply via an unfair process to Sinclair
Broadcast Group, Inc.
On April 11, 2013, Sinclair Broadcast Group, Inc. and Fisher Communications,
Inc. announced that they have entered into a merger agreement whereby Sinclair
Broadcast Group, will acquire Fisher Communications in a merger transaction
valued at approximately$373.3 million. Under the terms of the agreement,
Fisher Communications shareholders will receive$41.00in cash for each share
of Fisher Communications common stock they own.
However, the plaintiff claims that the $41.00-offer is too low and undervalues
the company. Indeed, after the takeover announcement shares of Fisher
Communications, Inc. rose in the open market above the current offer. In fact,
FSCI shares traded on April 16, 2013, as high as $41.39 per share. Furthermore
the plaintiff alleges that the takeover process is also unfair to FSCI
On April 19, 2013, FSCI shares closed at $41.22 per share.
Those who currently are investors in Fisher Communications, Inc. (FSCI) shares
and purchased a substantial amount of FSCI shares before the announcement have
certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring
and settlement claim filing service, which does research related to
shareholder issues and informs investors of securities class actions,
settlements, judgments, and other legal related news to the stock/financial
market. The Shareholders Foundation, Inc. is not a law firm. The information
is provided as a public service. It is not intended as legal advice and should
not be relied upon.
CONTACT: Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
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