NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, investigates a possible challenge of the Board of Directors of LIN Media LLC (“LIN” or the “Company”) (NYSE:LIN) actions as they relate to their recommendation and agreement of the sale of the Company to Media General Inc. (MEG) for approximately $1.6 billion, or $2.6 billion including debt of $968 million. The Company’s stockholders are offered to receive a mixed of stock or cash worth $27.82, or 1.5762 shares of the Media General Inc. for each share of LIN common stock they own. A complaint has been filed against the Company.
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The investigation focuses on whether LIN’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of LIN’s shareholders.
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If you own common stock in LIN and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/LIN or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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