Fisher Reaches Settlement In Shareholder Suit
July 29, 2013 at 4:10 AM (PT)
FISHER COMMUNICATIONS has informed the SEC that it has, pending court approval, settled a class action lawsuit filed against it in advance of the company's planned merger into SINCLAIR BROADCAST GROUP.
The suit, HALBERSTAM v. FISHER COMMUNICATIONS INC., et al., alleged that the company did not offer enough information to shareholders about the deal; the settlement will release FISHER from liability and would dismiss the case with prejudice. The price for the sale will not change as a result of the settlement.
FISHER shareholders will meet on AUGUST 6th to vote on the deal, which has been unanimously recommended for approval by the board of directors.