A lawsuit was filed for investors in shares of Gannett Co., Inc. (NYSE: GCI) in connection with the proposed takeover and NYSE: GCI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/06/2019 -- An investor, who currently holds shares of Gannett Co., Inc. (NYSE: GCI), filed a lawsuit against the takeover of Gannett Co., Inc).
Investors who purchased shares of Gannett Co., Inc. (NYSE: GCI) and currently hold any of those NYSE: GCI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: GCI stockholders by agreeing to sell Gannett Co., Inc. cheaply via an unfair process.
McLean, VA based Gannett Co., Inc. operates as a media and marketing solutions company. On August 5, 2019, Gannett Co., Inc entered into an agreement and plan of merger (the "Merger Agreement") with New Media, Intermediate HoldCo, and Merger Sub. Pursuant to the terms of the Merger Agreement, shareholders of Gannett will receive $6.25 in cash and 0.5427 shares of New Media common stock per share (the "Proposed Transaction").
However, the plaintiff alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Form Registration Statement (the "Registration Statement") filed with the United States Securities and Exchange Commission (SEC).
Furthermore, the plaintiff alleges that the Registration Statement omits material information with respect to, among other things, the Company's and New Media's financial projections and the analyses performed by Gannett's financial advisors.
Those who are current investors in Gannett Co., Inc. (NYSE: GCI) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.