NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of GCI Liberty, Inc. (NASDAQ: GLIBA) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Liberty Broadband Corporation (NASDAQ: LBRDA).
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On August 6, 2020, GCI Liberty announced that it had signed an agreement to be acquired by Liberty Broadband. Pursuant to the merger agreement, GCI Liberty’s stockholders will receive 0.580 shares of Liberty Broadband for every share of GCI Liberty common stock owned. At the completion of the merger, former GCI Liberty stockholders are expected to own approximately 16.7% voting power of Liberty Broadband. The deal is scheduled to close in the first half of 2021.
Bragar Eagel & Squire is concerned that GCI Liberty’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for GCI Liberty’s stockholders.
If you own shares of GCI Liberty and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at investigations@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
