MILWAUKEE, Feb. 5, 2013 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Virgin Media Inc. ("Virgin") for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Virgin to Liberty Global, Inc.
Click here to learn how to join the action: http://www.ademilaw.com/case/virgin-media-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Virgin shareholders will receive $17.50 in cash, 0.2582 Liberty Global Series A shares and 0.1928 Liberty Global Series C shares for each Virgin share that they hold. The merger agreement unreasonably limits prospective bids for Virgin by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Virgin receive and accept a superior bid. Virgin insiders, their affiliates and other majority shareholders own significant voting stock of Virgin, and will receive tens of millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of Virgin not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Virgin'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 Virgin given its current financial condition and prospects.
If you own common stock in Virgin and wish to obtain additional information, please contact Guri Ademi either at email@example.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/virgin-media-inc.
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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.comSource:Ademi & O'Reilly, LLP