BALA CYNWYD, Pa., June 14, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Belo Corporation ("Belo" or the "Company") (NYSE: BLC) relating to the acquisition of the Company by Gannett Co. ("Gannett").
Click here to learn more about the investigation http://brodsky-smith.com/603-blc-belo-corporation.html, or call: 877-534-2590.
Under the terms of the transaction, Belo shareholders will receive only $13.75 in cash for each share of Belo stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Belo for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as Gannett shares soared 27 percent to a five-year high after the deal to acquire Belo was announced. Gannett said it would generate significant free cash flow and increase its operating earnings per share by 50 cents in the first year and have $175 million of annual savings within three years after closing.
If you own shares of Belo common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [email protected], by visiting http://brodsky-smith.com/603-blc-belo-corporation.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Law Office of Brodsky & Smith, LLC