WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Martha Stewart Living Omnimedia, Inc. (NYSE: MSO)?
- Did you purchase any of your shares prior to June 22, 2015?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Martha Stewart Living Omnimedia, Inc. (“Martha Stewart” or the “Company”) (NYSE: MSO) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Sequential Brands Group, Inc. (“Sequential Brands”) (NASDAQ CM: SQBG), in a transaction valued at approximately $353 million.
Click here to learn more: http://rigrodskylong.com/investigations/martha-stewart-living-omnimedia-inc-mso.
Under the terms of the agreement, shareholders of Martha Stewart will be entitled to elect to receive either (a) $6.15 in cash or (b) a number of shares of a newly formed public holding company (“TopCo”) common stock equal to $6.15 divided by the volume weighted average price of Sequential Brands common stock during the five-day period ending on the trading day immediately prior to closing, for each share of Martha Stewart common stock held.
The investigation concerns whether Martha Stewart’s board of directors failed to adequately shop the Company and obtain the best possible value for Martha Stewart’s shareholders before entering into an agreement with Sequential Brands. According to Yahoo! Finance, at least one analyst has issued a price target for Martha Stewart stock at $7.18 per share.
If you own the common stock of Martha Stewart and purchased your shares before June 22, 2015, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://rigrodskylong.com/investigations/martha-stewart-living-omnimedia-inc-mso.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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