STEVENSON, Md., April 16, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the Delaware Court of Chancery on behalf of all common stockholders of LIN Media LLC ("LIN" or the "Company") (NYSE:LIN) asserting claims that the members of the Company's board of directors have breached fiduciary duties they owe to LIN shareholders.
LIN recently announced that it has entered into a definitive merger agreement to be acquired by Media General, Inc. ("Media General"). According to the complaint, under the terms of the proposed transaction, LIN shareholders can elect to receive $27.82 in cash or 1.5762 shares of the new holding company for each share of LIN they own. The claims asserted in the lawsuit concern whether the Company's Board of Directors breached their fiduciary duties to stockholders by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Media General is underpaying for LIN shares.
If you currently own common stock of LIN and would like to learn more about this lawsuit and your ability to participate as a plaintiff, without cost or obligation to you, click here: http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.