NEW YORK, July 5, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of STARZ ("STARZ" or
the "Company") in connection with the proposed acquisition of the
Company by Lions Gate Entertainment Corp. ("LGF"). On
June 30, 2016, the Company announced
it had reached a definitive agreement for LGF to acquire all
outstanding shares of STARZ in a cash-and-stock transaction valued
at approximately $4.4 billion.
Under the terms of the agreement, STRZA shareholders will receive
two-thirds of a share of LGF and $18.00 in cash for each STRZA share they own,
representing a consideration of $32.21 per share. STRZB shareholders will
receive 0.63 of a share of LGF and $7.26 in cash for each STRZB share they own,
representing a consideration of $33.73 per share.
WeissLaw is investigating whether STARZ's Board acted to
maximize shareholder value prior to entering into the
agreement. Notably, at least one analyst set a target price
of $47.00 per STRZA share, or
approximately $15.00 above the offer
price. Additionally, STRZB shares traded at $37.71, or nearly $4.00 above the STRZB offer price, in late
October of last year.
Given these facts, WeissLaw is investigating the Board of
Directors' decision to sell STARZ and whether STARZ shareholders
will obtain their fair and proportionate share of the Company's
continued success and future growth prospects. If you own
STARZ shares and would like more information about your rights or
our investigation, or if you have information to share with us,
please contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP