NEW YORK--(BUSINESS WIRE)--Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of PRIMEDIA Inc. (NYSE: PRM) (referred to as "PRIMEDIA" or the “Company”) by affiliates of TPG Capital (“TPG”) in a cash transaction enterprise value of approximately $525 million.
Under the terms of the definitive agreement, holders of the outstanding common shares of PRIMEDIA will receive $7.10 per share in cash. Stockholders holding approximately 58% of the outstanding PRIMEDIA common stock have executed a written consent approving the transaction. Therefore, no additional PRIMEDIA stockholder action is required to complete the transaction.
Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Company’s shareholders. If you are a holder of PRIMEDIA stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.
If you are a shareholder of PRIMEDIA and would like more information about our investigation, please contact Peter D. Bull, Esq. by telephone at (866) 313-6222 or by sending an e-mail including your contact information to: counsel@nyclasslaw.com. All e-mail correspondence should make reference to PRIMEDIA.
Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at www.nyclasslaw.com.
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