NEW YORK, April 11, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Fisher Communications, Inc. ("Fisher" or the "Company") (NASDAQ: FSCI) concerning the proposed acquisition of the Company by Sinclair Broadcast Group, Inc. ("Sinclair") (NASDAQ: SBGI) in a transaction valued at approximately $373 million.
On April 11, 2013, Fisher announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by Sinclair. Under the terms of the agreement, Sinclair will pay $41.00 per share of Fisher common stock. This represents only a 5% premium to Fisher's stock price prior to the announcement.
Our investigation concerns whether the board of directors is fulfilling its fiduciary duties, maximizing the value of Fisher stock, disclosing all material benefits and costs and obtaining full and fair consideration for Fisher public shareholders.
If you own Fisher shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP