NEW YORK, July 5, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of STARZ ("STARZ" or the "Company") in connection with the proposed acquisition of the Company by Lions Gate Entertainment Corp. ("LGF"). On June 30, 2016, the Company announced it had reached a definitive agreement for LGF to acquire all outstanding shares of STARZ in a cash-and-stock transaction valued at approximately $4.4 billion. Under the terms of the agreement, STRZA shareholders will receive two-thirds of a share of LGF and $18.00 in cash for each STRZA share they own, representing a consideration of $32.21 per share. STRZB shareholders will receive 0.63 of a share of LGF and $7.26 in cash for each STRZB share they own, representing a consideration of $33.73 per share.
WeissLaw is investigating whether STARZ's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $47.00 per STRZA share, or approximately $15.00 above the offer price. Additionally, STRZB shares traded at $37.71, or nearly $4.00 above the STRZB offer price, in late October of last year.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell STARZ and whether STARZ shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own STARZ shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP