Tribune Media, Sinclair Broadcast Group Face Another Securities Lawsuit

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Tribune Media Company, its board of directors, Sinclair Broadcast Group, Inc., and Samson Merger Sub Inc. are facing another proposed class action lawsuit that accuses them of misleading stockholders in connection with a proposed merger. The suit alleges that the defendants failed to disclose information to its shareholders that would be needed in their determinations of whether to vote in support of the merger. The registration statement supposedly lacks details concerning the companies’ financial projections, the financial advisor’s valuation analyses, and the background process of the transaction that may have discouraged other potential buyers from making superior offers. The plaintiff says the “inadequate” proposal and “onerous deal protection devices” will result in financial loss for Tribune shareholders.