NEW YORK, July 20, 2024 (GLOBE NEWSWIRE) -- Top law firm Bleichmar Fonti & Auld LLP is investigating whether the Paramount Global (Nasdaq:PARA) merger transaction is fair to minority shareholders, who are being offered up to $15 per share in exchange for their Paramount Class B Shares.
If you are a shareholder of Paramount, you are encouraged to submit your information at: https://www.bfalaw.com/cases-investigations/paramount-global.
Why is Paramount being investigated by BFA Law?
On July 7, 2024, Paramount Global announced that it had entered into a merger transaction with a consortium led by Skydance Media, RedBird Capital, and the Ellison Family (the “Skydance Consortium”). Minority shareholders will have no say over the merger transaction, as National Amusements, which controls nearly 80% of Paramount voting stock, is apparently unwilling to subject the merger to a vote of minority shareholders.
As part of the merger transaction, Class A shareholders are entitled to elect to receive $23 per share in cash. Class B shareholders, however, are entitled to elect to receive a payout in cash of $15 per share, which will be prorated if enough shareholders elect to receive cash. BFA is concerned that the disparate treatment of Class B shareholders is unfair and violates Delaware law. As such, BFA believes the board of directors of Paramount Global, and National Amusements may have breached their fiduciary duties to Paramount Global Class B shareholders.
Shareholders are encouraged to submit their information to find out about their rights.
Submit your information here: https://www.bfalaw.com/cases-investigations/paramount-global.
Next Steps:
If you currently own shares of Paramount Global you may have legal options and are encouraged to contact the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
To speak with an attorney for more information visit:
https://www.bfalaw.com/cases-investigations/paramount-global
Or contact:
Ross Shikowitz
ross@bfalaw.com
212-789-2303
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/paramount-global
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