New Frontier Media Buyout Investigated by Securities Attorneys at The Briscoe Law Firm and Powers Taylor, LLP
16 Outubro 2012 - 3:38PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the proposed New Frontier Media Buyout for
shareholders. New Frontier Media, Inc. (“New Frontier”)(NasdaqGS:
NOOF) announced that it entered into a definitive merger agreement
with LFP Broadcasting, LLC, an affiliate of L.F.P., Inc. Under the
terms of the transaction valued at approximately $33 million, New
Frontier shareholders will receive only $2.02 in cash for each
share of NOOF common stock owned, plus the option to receive an
additional $0.06 per share if New Frontier’s available cash balance
at the closing of the offer, less unpaid transaction expenses,
exceeds $11,514,000. The proposed transaction price is well below
at least one analyst’s estimated value of $4.00 per share.
There is no cost or fee for you to join the action. Thus, if you
are an affected investor, and you want to learn more about the
lawsuit or join the action, please contact Patrick Powers at Powers
Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com.
Shareholder rights attorney Willie Briscoe stated that, “Our
investigation relates to the fairness of the proposed price for New
Frontier shareholders and whether the Board of Directors is
adequately shopping the company in order to obtain the best
possible price for the shareholders.” Notably, according to at
least one analyst with Yahoo! Finance, the true inherent value of
NOOF stock could be as high as $4.00 a share. The proposed lawsuit
will seek to obtain the highest possible price for each share of
New Frontier stock owned.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a Dallas litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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