Case Page

 

Case Status:    DISMISSED    
On or around 06/17/2010 (Date of order of final judgment)

Filing Date: April 08, 2009

According to the complaint, on March 23, 2009, a Tender Offer and the acts of the Director Defendants, constituted a breach of defendants' fiduciary duties to Plaintiff and the Class and a violation of applicable legal standards.

The Company's majority stockholder announced that it would commence a cash tender offer for all of the outstanding publicly held minority interest in Cox Radio for $3.80 per share in cash, or a total payment of approximately $69.1 million, including fees and expenses.

The Tender Offer leaves the public stockholders faced with an
unfairly coercive Tender Offer and without a fully informed voluntary choice
whether to sell the Company or seek appraisal. If the Tender Offer closes with
less than 90% owned by the Defendant Company, the Company's shareholders run the risk of not having a free market to sell their shares.

On January 20, 2010, Judge Julie E. Carnes granted the motion to appoint Donald Dixon and John H. Bradley as lead plaintiffs and the firms of Chitwood Harley and Bull & Lifshitz are appointed as co-lead counsel for the class.

In June 2010, the case was administratively closed, pending resolution of appeals before the Supreme Court.

COMPANY INFORMATION:

Sector: Services
Industry: Broadcasting & Cable TV
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CXR
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Georgia
DOCKET #: 09-CV-00938
JUDGE: Hon. Julie E. Carnes
DATE FILED: 04/08/2009
CLASS PERIOD START: 03/23/2009
CLASS PERIOD END: 04/08/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bull & Lifshitz
    18 East 41st St., Bull & Lifshitz, NY 10017
    212.213.6222 212.213.9405 ·
  2. Chitwood Harley Harnes LLP (Atlanta)
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood Harley Harnes LLP (Atlanta), GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
No Document Title Filing Date