SHAREHOLDER ALERT: Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Filed Against Sinclair Broadcast Group, Inc.
Sep. 05, 2018
PHILADELPHIA--(BUSINESS WIRE)--Sep 5, 2018--The law firm of Spector, Roseman & Kodroff, P.C. announces that a securities class action lawsuit has been filed on behalf of investors who purchased Sinclair Broadcast Group, Inc. (“Sinclair”) (Nasdaq: SBGI) securities on the open market between February 22, 2017 and July 19, 2018 (the “Class Period”).
According to the lawsuit, throughout the Class Period, defendants failed to disclose material adverse facts about Sinclair’s business, including that the Company was using its best efforts to obtain regulatory approval of a proposed merger with Tribune Media Co. (“Tribune”). News reports subsequently revealed that Sinclair was attempting to skirt the Federal Communications Commission’s rules on broadcast ownership and had not, contrary to its public statements, divested its ownership interest in certain television stations. These revelations resulted in a decline of $6.65 per share in the price of Sinclair’s common stock—approximately 20%—between July 13 and July 19, 2018, as well as Tribune’s decision to withdraw from the merger.
Until a class is certified, you are not represented by counsel unless you retain one. You may also remain an absent class member and do nothing at this point or you may retain counsel of your choice.
If you purchased Sinclair securities during the Class Period, you may, no later than October 9, 2018, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative chosen by the Court that acts on behalf of other class members in directing the litigation.
If you have sustained substantial losses in Sinclair securities during the Class Period and wish to move to be appointed as Lead Plaintiff, please contact Spector, Roseman & Kodroff, P.C. toll-free at 888-844-5862 or via e-mail at firstname.lastname@example.org. For more detailed information about the firm please visit its website at http://srkattorneys.com.
Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract, and commercial claims. The firm’s reputation for excellence has been recognized by courts on repeated occasions. The firm has recovered hundreds of millions of dollars through judgments and settlements on behalf of defrauded shareholders and companies.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180905005717/en/
CONTACT: Spector, Roseman & Kodroff, P.C.
Robert M. Roseman, 888-844-5862
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Spector, Roseman & Kodroff, P.C.
Copyright Business Wire 2018.
PUB: 09/05/2018 11:41 AM/DISC: 09/05/2018 11:41 AM