Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Tribune Media Company (TRCO) and Encourages TRCO Investors to Contact the Firm
NEW YORK, Sept. 24, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired Tribune Media Company (TRCO) securities between November 29, 2017 through July 16, 2018 (the “Class Period”).
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and omitted material adverse facts concerning the conduct of Sinclair Broadcast Group Inc. (Sinclair) (SBGI) during the process of seeking regulatory approval necessary to complete a proposed merger between Tribune and Sinclair. Specifically, the complaint alleges that while the defendants frequently discussed the regulatory steps necessary to complete the Merger in public statements and presentations, including Sinclair’s purported agreement to take certain actions to secure regulatory approval, the defendants misstated or omitted the fact that: (1) Sinclair was refusing to divest itself of television stations in certain markets necessary to secure regulatory approval; and (2) Sinclair was taking the position that it was not legally or contractually obligated to complete the identified divestitures to ensure regulatory approval. As a result of the defendants false and misleading statements and omissions, Tribune common stock traded at artificially inflated prices during the Class Period and such inflation was removed when it was revealed that the Merger had not received regulatory approval by the applicable deadline and would not close.
If you purchased Tribune Media securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Tribune Media lawsuit, please go to https://bespc.com/tribune/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.