MARTHA STEWART LIVING OMNIMEDIA STOCKHOLDER NOTICE: Gardy & Notis, LLP Announces the Investigation of Martha Stewart Living Omnimedia, Inc. Over the Proposed Sale of the Company to Sequential Brands Group, Inc.
Jun 30, 2015, 03:50 ET
NEW YORK, June 30, 2015 /PRNewswire/ -- Gardy & Notis, LLP, a leading national securities firm headquartered in New York City, is investigating the proposed acquisition of Martha Stewart Living Omnimedia, Inc. ("Stewart") (NYSE: MSO) by Sequential Brands Group, Inc. ("Sequential") in a transaction valued at approximately $353 million.
Stewart shareholders stand to gain $6.15 per share in cash or stock valued at $6.15 per share in a newly formed company. According to Yahoo! Finance, at least one analyst has issued a price target for Martha Stewart stock at $7.18 per share. As a result of the proposed transaction, Martha Stewart will personally become a "significant shareholder" of the newly formed company and will obtain a highly profitable employment agreement in connection with the proposed transaction.
The investigation concerns whether the Board of Directors of Stewart breached their fiduciary duty to stockholders by failing to adequately shop Stewart before agreeing to enter into this transaction, attaching conditions to the merger than make it more difficult for competing offers to emerge, providing Martha Stewart with benefits not provided to other stockholders, and whether Sequential is underpaying for Stewart shares.
Gardy & Notis, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, stockholder, and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Stewart and wish to obtain additional information and protect your investments free of charge, please visit us at www.gardylaw.com or contact Mark C. Gardy, Esq. either via e-mail at [email protected] or by telephone at (212) 905-0509.
Gardy & Notis, LLP
126 East 56th Street, 8th Floor
New York, NY 10022
Attn: Mark C. Gardy, Esq.
Phone: (212) 905-0509
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