Univision dons suits

Shareholders take issue with sale

The inevitable shareholder challenges to the Univision sale began Wednesday with the filing of two separate class-action suits claiming that the net’s board of directors got the best possible deal for themselves instead of the shareholders.

One suit, filed by powerhouse plaintiffs’ firm Lerach Coughlin Stoia Geller Rudman & Robbins, against Univision chairman A. Jerrold Perenchio and the other members of the board of directors alleges that they breached their fiduciary duty to shareholders by relying on nonpublic information to conclude the proposed sale of the network to a consortium headed by Haim Saban.

A second lawsuit also claims that the Univision board got the best deal for themselves and did not get the highest price for shareholders.

Both suits were filed in L.A. Superior Court.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety