A Third Law Firm 'Investigates' Citadel's Deal With Cumulus
March 11, 2011 at 4:15 AM (PT)
A third law firm has announced an "investigation" of CITADEL BROADCASTING's deal with CUMULUS MEDIA. YESTERDAY, two firms made the same move (NET NEWS 3/10).
HARWOOD FEFFER LLP "is investigating potential claims against the board of directors of CITADEL BROADCASTING CORP. concerning the Company’s entry into an agreement to be acquired by CUMULUS MEDIA INC. in a transaction valued at approximately $2.4 billion," wrote HARWOOD FEFFER.
"Our investigation concerns whether the board of directors is undertaking a fair process to obtain fair consideration for all shareholders of CITADEL," they continued.