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Sinclair Broadcast Group, Inc.

Case Summary

Sinclair Broadcast Group, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 08/10/2018 (Ongoing date of last review)

Filing Date: August 09, 2018

Plaintiff's law firm issued a press release announcing the lawsuit on August 9, 2018. According to the press release, Sinclair is the largest television station operator in the United States by both number of stations and total coverage. The Company owns more than 193 stations across the country, covering nearly 40% of American households.

The Complaint asserts claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and its proposed merger with Tribune Media Company (the “Sinclair/Tribune Merger”).

Specifically, Defendants allegedly made false and/or misleading statements and/or failed to disclose that: (i) the Sinclair/Tribune Merger was not in compliance with FCC rules and regulations; (ii) Sinclair was not using its best efforts to eliminate any impediment to regulatory approval; (iii) Sinclair was engaging in non-arm’s length transactions with buyers connected to Sinclair’s controlling shareholders in order to skirt FCC ownership rules; and (iv) that, as a result of the foregoing, Defendant’s public statements were materially false and/or misleading and/or lacked a reasonable basis.

Company & Securities Information

Defendant: Sinclair Broadcast Group, Inc.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: SBGI
Company Market: NASDAQ
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.

First Identified Complaint

Edward Komito, et al. v. Sinclair Broadcast Group, Inc., et al.

COURT: D. Maryland
DOCKET #: 18-CV-02445
JUDGE: Hon. Catherine C. Blake
DATE FILED: 08/09/2018
CLASS PERIOD START: 02/22/2017
CLASS PERIOD END: 07/19/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goldman & Minton, P.C.
    1500 Union Ave, Suite 2300, Goldman & Minton, P.C., MA 21211
    410-783-7575 ·
  2. Saxena White PA (Boca Raton)
    2424 N. Federal Highway, Suite 257, Saxena White PA (Boca Raton), FL 33431
    561.394.3399 561.394.3399 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint 08/09/2018
2 U.S. District Court Civil Docket 08/10/2018
 
 

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