Stockholder Claims HSN Merger Recommendation Statement Missing Information

New to ClassAction.org? Read our Newswire Disclaimer

A proposed securities lawsuit has been filed against HSN, Inc., its board of directors, Liberty Interactive Corporation, and Liberty Horizon, Inc. over an allegedly misleading registration statement filed in connection with a potential merger between HSN and Liberty. The suit claims the statement was missing the following information:

• details of HSN’s financial projections;
• details of the valuation analyses performed by HSN’s financial advisors;
• possible conflicts of interest among HSN’s board of directors stemming from communications regarding their future employment in the new company; and
• an accurate description of the background of the transaction.

The plaintiff in the case, an HSN stockholder, claims he and other investors are entitled to this information and face the possibility of “irreparable harm” if it continues to be withheld.