Harwood Feffer LLP Announces Investigation of Outdoor Channel Holdings, Inc.
NEW YORK, Nov. 19, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Outdoor Channel Holdings, Inc. ("Outdoor Channel" or the "Company") (NASDAQ: OUTD) concerning the proposed acquisition of the Company by InterMedia Outdoor Holdings, LLC ("InterMedia") in a transaction valued at approximately $148.8 million.
On November 16, 2012, Outdoor Channel announced that it had approved a definitive merger agreement with InterMedia. The merger will create InterMedia Outdoor Holdings, Inc ("IMOH"). Under the terms of the agreement Outdoor Channel shareholders will be entitled to receive for each share, subject to proration, either $8.00 in cash or one share of stock in IMOH, a privately held company. The cash component is subject to a cap of $115 million. At least one analyst has set a target price for the Company's stock at $9.00.
Our investigation concerns whether the Outdoor Channel board of directors is fulfilling its fiduciary duties, undertaking a fair process maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.
If you own Outdoor Channel shares and wish to discuss this matter with us, or have any questions concerning your rights and interests, please contact:
Robert I. Harwood, Esq.
Matthew H. Houston, Esq.
Christopher J. Safrath
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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.
Attorney Advertising© 2012 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Harwood Feffer LLP