1. Ademi Firm investigates WOW for potential fiduciary duty breaches. 2. WOW shareholders will receive $5.20 per share in the cash transaction. 3. Crestview, the largest shareholder, will roll over its holdings. 4. Transaction agreement limits competing bids, raising governance concerns. 5. Insiders benefit from change of control arrangements.
The investigation and potential breaches can erode investor confidence, similar to prior cases impacting stock prices significantly.
The article highlights significant legal concerns that could impact shareholder actions and stock value.
Immediate scrutiny can lead to short-term volatility, affecting stock performance quickly as investors react.
The Ademi Firm is investigating WideOpenWest (NYSE:WOW) for possible breaches of fiduciary duty and other violations of law in its transaction with DigitalBridge Investments.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
Shareholders of WideOpenWest will receive $5.20 per share in cash in an all-cash transaction valued at approximately $1.5 billion. Crestview, which currently owns approximately 37% of WideOpenWest's outstanding shares and is the company's largest stockholder, will roll over its existing holdings rather than receive cash.
WideOpenWest insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for WideOpenWest by imposing a significant penalty if WideOpenWest accepts a competing bid. We are investigating the conduct of the WideOpenWest board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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Ademi & Fruchter LLP
Guri Ademi
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