SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of New...
19 Outubro 2012 - 2:55PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
New Frontier Media, Inc. (“New Frontier Media” or the “Company”)
(NasdaqGS: NOOF) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company
to LFP Broadcasting, LLC, an affiliate of L.F.P., Inc.
Click here to learn more about the investigation:
http://zlk.9nl.com/new-frontier-media, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, New Frontier Media
shareholders will receive $2.02 per share of New Frontier Media,
plus a contingent cash payment of no more than $0.06 per share if
New Frontier Media’s available cash balance at the closing of the
tender offer—less unpaid transaction expenses—exceeds $11,514,000.
The investigation concerns whether the New Frontier Media Board of
Directors breached their fiduciary duties to stockholders by
failing to adequately shop the Company before entering into this
transaction and whether LFP Broadcasting, LLC is underpaying for
New Frontier Media shares, thus unlawfully harming New Frontier
Media stockholders. In particular, at least one analyst set a price
target for New Frontier Media stock at $4.00 per share.
If you own common stock in New Frontier Media 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/new-frontier-media.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has 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.
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