NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of PRIMEDIA Inc. (NYSE: PRM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to affiliates of TPG Capital. Under the terms of the deal, PRIMEDIA shareholders will receive $7.10 per share in cash. The transaction has a total approximate enterprise value of $525 million.
The investigation concerns whether the PRIMEDIA Board of Directors breached their fiduciary duties to PRIMEDIA stockholders by failing to adequately shop the Company before entering into this transaction and whether TPG Capital is underpaying for PRIMEDIA shares. Shareholders holding approximately 58% of the outstanding PRIMEDIA common stock have provided written consent of the transaction.
If you own common stock in PRIMEDIA and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/primedia-prm.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.