An investigation for investors in Sinclair Broadcast Group, Inc. (NASDAD: SBGI) shares over potential securities laws violations was announced.
San Diego, CA -- (SBWIRE) -- 08/08/2018 -- An investigation was announced concerning potential securities laws violations in connection with certain financial statements made by Sinclair Broadcast Group, Inc.
Investors who purchased shares of Sinclair Broadcast Group, Inc. (NASDAD: SBGI), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether Sinclair made materially false and misleading statements or failed to disclose material information pertaining to the purchase of Tribune shares.
On May 8, 2017, Sinclair Broadcast Group, Inc. and Tribu Tribune Media Co (NYSE:TRCO) announced that they have entered into an agreement under which Sinclair will acquire 100% of the issued and outstanding shares of Tribune Media Co (NYSE:TRCO) for $43.50 per share, for an aggregate purchase price of approximately $3.9 billion, plus the assumption of approximately $2.7 billion in net debt. Under the terms of the agreement, Tribune Media Co (NYSE:TRCO) stockholders will receive $35.00 in cash and 0.23 shares of Sinclair Class A common stock for each share of Tribune Media Co (NYSE:TRCO) Class A common stock and Class B common stock they own.
On August 3, 2017, Sinclair filed a Form 8-K with the U.S. Securities and Exchange Commission disclosing that the U.S. Department of Justice had requested additional information and documentary material pertaining to the agreement.
Those who purchased shares of Sinclair Broadcast Group, Inc. (NASDAD: SBGI) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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