NEW YORK, March 30, 2021 /PRNewswire/ --
If you own MSGN shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of MSG Networks Inc. ("MSGN" or the "Company") (NYSE: MSGN) in connection with the proposed acquisition of the Company by Madison Square Garden Entertainment Corp. ("MSGE). Under the terms of the merger agreement, MSGN shareholders will receive only 0.172 shares of MSGE for each share of MSGN common stock that they hold, representing implied per-share merger consideration of $14.12 based on MSGE's March 29, 2021 closing price of $82.10.
WeissLaw LLP is investigating whether the special committee of MSGN's board was truly independent, whether MSGN's board acted in the best interest of MSGN's public shareholders in agreeing to the proposed transaction, whether the per-share merger consideration adequately compensates MSGN's shareholders, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to MSGN's public shareholders. Notably, MSGN's shares were trading over $20.00 per share as recently as March 17, 2021.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP