MILWAUKEE, May 26, 2015 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of SFX for possible breaches of fiduciary duty and other violations of state law in connection with the sale of SFX to Sillerman.
Click here to learn how to join the action: http://www.ademilaw.com/case/sfx or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
SFX’s long-term financial outlook is positive and yet shareholders will receive the equivalent of only $5.25 per share. Sillerman, as chairman and CEO, is well aware of SFX’s improving financial metrics and is purchasing SFX at a substantial discount. The merger agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should SFX receive and accept a superior bid. SFX’s insiders and their affiliates own significant stock, and will receive millions of dollars as part of change of control arrangements. These insiders can unduly influence a sale of SFX, which may not be in the best interests of non-insider shareholders. Our investigation centers on the conduct of SFX’s Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for SFX given its current financial condition and prospects.
If you own shares of SFX and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/sfx.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.