NEW YORK, Oct. 14, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of AirMedia Group Inc. ("AirMedia" or the "Company") (NasdaqGS:AMCN) for potential breaches of fiduciary duties in connection with the sale of the Company to a consortium composed of members of the Company's management for approximately $360 million in a cash transaction.
The Company's stockholders will only receive $6.00 for each Company ADS they own. However, at least one analyst has set a price target of $6.90 per ADS.
Click here for more information: www.faruqilaw.com/AMCN. There is no cost or obligation to you.
The investigation focuses on whether AirMedia's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of AirMedia's shareholders.
Faruqi & Faruqi, 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, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced team which has achieved significant victories on behalf of clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in AirMedia and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/AMCN or contact Juan E. Monteverde, Esq. either via e-mail at [email protected] or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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