On or around 12/05/2018 (Notice of voluntarily dismissal)
Filing Date: July 07, 2017
According to the Complaint, on May 8, 2017, Tribune and Sinclair jointly announced that they had reached a definitive Agreement and Plan of Merger (“Merger Agreement”) under which each outstanding share of Tribune common stock will be exchanged for $35.00 in cash and 0.23 shares of Sinclair (the “Merger Consideration”), representing an implied value of $43.50 per share.
The Complaint alleges Defendants have violated Sections of the Exchange Act by causing a materially incomplete and misleading Form S-4 Registration Statement (the “S-4”) filed with the SEC on June 30, 2017. The Board recommends that Tribune shareholders vote in favor of approving the Proposed Merger at the tentative shareholder special meeting, and agree to exchange their shares pursuant to the terms of the Merger Agreement based on, among other things, the factors examined by the Board to make its recommendation and the opinions rendered by the Company’s financial advisors, Moelis & Company (“Moelis”) and Guggenheim Securities, LLC (“Guggenheim”).
This case was stayed and administratively terminated on November 29, 2017. This case was voluntarily dismissed on December 5, 2018.
Company & Securities Information
Defendant: Tribune Media Company
Industry: Broadcasting & Cable TV
Headquarters: United States
Ticker Symbol: TRCO
Company Market: New York SE
Market Status: Public (Listed)
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First Identified Complaint
Scott Duffy, et al. v. Tribune Media Company, et al.