Finkelstein Thompson LLP Announces Investigation of New Frontier Media, Inc.
WASHINGTON--(BUSINESS WIRE)-- The law firm of Finkelstein Thompson LLP is investigating claims on behalf of shareholders of New Frontier Media, Inc. ("New Frontier" or the "Company") (NAS: NOOF) , concerning the proposed acquisition of the Company by LFP Broadcasting, LLC. The current value of the per-share consideration is approximately $2.02 per share in cash plus a contingent cash payment not to exceed $0.06 per common share if New Frontier's available cash balance at the closing of the tender offer, less unpaid transaction expenses, exceeds $11,514,000. The total value of the transaction is approximately $32.7 million. At least one analyst has set a target price of $4.00 for the Company's shares.
The investigation is focused on the potential unfairness of the consideration to New Frontier shareholders, the process by which the Company's Board of Directors considered the transaction, and potential conflicts of interest among New Frontier Board members.
If you are interested in discussing your rights as a New Frontier shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington D.C. offices at (202)-337-8000 or by email at firstname.lastname@example.org.
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our website at www.finkelsteinthompson.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Finkelstein Thompson LLP
Rosalee Thomas, 202-337-8000
KEYWORDS: United States North America District of Columbia
The article Finkelstein Thompson LLP Announces Investigation of New Frontier Media, Inc. originally appeared on Fool.com.
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