SINCLAIR BROADCAST SHAREHOLDER ALERT: CLAIMSFILER Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Sinclair Broadcast Group, Inc. - SBGI
Aug. 25, 2018
NEW ORLEANS, Aug. 24, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 9, 2018 to file lead plaintiff applications in a securities class action lawsuit against Sinclair Broadcast Group, Inc. (NasdaqGS:SBGI), if they purchased the Company’s shares between February 22, 2017 and July 19, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Maryland.
Sinclair investors should visit us at https://www.claimsfiler.com/cases/view-sinclair-broadcast-group-inc-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Sinclair and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 19, 2018, the Federal Communications Commission released its Order pertaining to Sinclair’s proposed merger with Tribune Media Company (which the Company called the “largest acquisition” in its history), ruling that there was “a substantial and material question of fact as to whether Sinclair affirmatively misrepresented or omitted material facts” regarding whether it had “attempted to skirt the Commission’s broadcast ownership rules” through “proposed divestitures [that] were in fact ‘sham’ transactions.”
On this news, the price of Sinclair’s shares plummeted.
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