MILWAUKEE, June 22, 2015 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of MSO for possible breaches of fiduciary duty and other violations of state law in connection with the sale of MSO to Sequential.
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MSO’s long-term financial outlook is positive and yet shareholders will receive only the equivalent of $6.15 per share. Sequential is well aware of MSO’s improving financial metrics and is purchasing MSO at a substantial discount. The merger agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should MSO receive and accept a superior bid. MSO’s insiders and their affiliates own significant stock, and will receive millions of dollars as part of change of control arrangements. These insiders can unduly influence a sale of MSO, which may not be in the best interests of non-insider shareholders. Our investigation centers on the conduct of MSO’s Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for MSO given its current financial condition and prospects.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Ademi & O’Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.com
Source:Ademi & O'Reilly, LLP