Another Law Firm Mulls Lawsuit Against Emmis Buyout
May 27, 2010 at 4:32 AM (PT)
The EMMIS buyout, already facing several shareholder lawsuits, has drawn another legal challenge this week, with KENDALL LAW GROUP announcing that it is "investigating" the proposed buyout by Chairman/CEO JEFF SMULYAN's JS ACQUISITION. LLC.
The law firm said in a press release that it "seeks to determine whether EMMIS and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders."