An investigation on behalf of investors of Crown Media Holdings, Inc in connection with the proposed takeover was announced and NASDAQ:CRWN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/30/2016 -- An investigation for shareholders in Crown Media Holdings, Inc was announced concerning whether the takeover of Crown Media Holdings, Inc by Hallmark Cards, Inc for $5.05 per share is unfair to NASDAQ:CRWN stockholders.
Investors who purchased shares of Crown Media Holdings, Inc (NASDAQ:CRWN) and currently hold any of those NASDAQ:CRWN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Crown Media Holdings, Inc (NASDAQ:CRWN breached their fiduciary duties owed to Crown Media Holdings, Inc (NASDAQ:CRWN investors in connection with the proposed acquisition.
On March 9, 2016, Donald J. Hall Jr., chief executive officer of Hallmark Cards, Inc., today announced that Hallmark intends to acquire all of Crown Media Holdings, Inc.'s (CRWN) outstanding common stock signaling the company's intent to take Crown Media private. Under the terms of the proposed transaction, Crown Media shareholders will be entitled to receive $5.05 in cash for each share of Crown Media common stock.
Howwever, given that the Hallmark Cards, Inc.is the majority shareholder of Crown Media Holdings, Inc (NASDAQ:CRWN), the investigation concerns whether the offer is unfair to NASDAQ:CRWN stockholders. More specifically, the investigation concerns whether the Crown Media HoldingsBoard of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Crown Media Holdings, Inc reported that its annual Total Revenue rose from $377.80 million in 2013 to $478.73 million in 2015 and that its Net Income increased from $67.72 million in 2013 to $86.08 million in 2015.
Shares of Crown Media Holdings, Inc (NASDAQ:CRWN) grew from $3.08 per share in October 2014 to as high as $6.08 per share in November 2015.
On March 28, 2016, NASDAQ:CRWN shares closed at $5.10 per share.
Those who are current investors in Crown Media Holdings, Inc (NASDAQ:CRWN) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com