Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of Liberty Media Corporation
February 16 2010 - 7:06PM
Business Wire
Attorney Advertising. Notice is hereby given that Stull, Stull
& Brody has commenced an investigation on behalf of
shareholders as of October 9, 2009 of Liberty Media Corporation’s
(“Liberty Media” or the “Company”) Series B Liberty Entertainment
tracking stock (Nasdaq: LMDIB) for possible breaches of fiduciary
duty and other violations of state law by the Company’s Board of
Directors (the “Board”) in connection with a series of transactions
that closed on November 19, 2009 which resulted in the sale of
Liberty Media’s assets to The DirectTV Group, Inc. (collectively,
the “Transaction”).
The current investigation concerns whether certain members of
the Board received special treatment in connection with the
Transaction that was not shared by the public shareholders of LMDIB
and whether the Board improperly failed to treat the Transaction as
a going-private transaction under SEC Rule 13E-3, which requires a
fairness opinion regarding the consideration being paid to Liberty
Media’s public shareholders and an independent
majority-of-the-minority vote.
If you own Series B Liberty Entertainment tracking stock
(Nasdaq: LMDIB) and wish to obtain additional information about
this matter, please contact Aaron Brody, Esq. at Stull, Stull &
Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to
ssbny@aol.com or by writing to Stull, Stull & Brody, 6 East
45th Street, New York, NY 10017. Stull, Stull & Brody has
litigated many class actions for violations of securities laws and
breaches of fiduciary duty on behalf of defrauded investors over
the past 40 years and has obtained court approval of substantial
settlements on numerous occasions. Stull, Stull & Brody has
offices in New York and Los Angeles. Additional information about
Stull, Stull & Brody can be found at the firm’s website at
www.ssbny.com.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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