NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of AirMedia Group Inc. (“AirMedia” or the “Company”) (NasdaqGS:AMCN) for potential breaches of fiduciary duties in connection with the sale of the Company to a consortium composed of members of the Company’s management for approximately $360 million in a cash transaction.
The Company’s stockholders will only receive $6.00 for each Company ADS they own. However, at least one analyst has set a price target of $6.90 per ADS.
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The investigation focuses on whether AirMedia’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 AirMedia’s shareholders.
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If you own common stock in AirMedia and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/AMCN 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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