Intermix Media Inc. : NewsCorp. Aquisition of Myspace.com Securities Litigation
On or around 04/16/2013 (Other)
Filing Date: June 14, 2006
This shareholders class action was filed against the Defendants arising out of an alleged unfair sale of MySpace to the News Corporation. The shareholders disputed the true value MySpace with the officers and directors and felt the sale underpriced.
According the Consolidated Second Amended Complaint, the Company’s public stockholders suffered billions of dollars in damages as a result of defendants’ preparation and dissemination of false and misleading proxy statements in violation of federal law and breaches of fiduciary duty in connection with the Acquisition.
Company & Securities Information
Defendant: Intermix Media Inc.
Industry: Computer Services
Headquarters: United States
Ticker Symbol: MIX
Company Market: American 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.