Faruqi & Faruqi, LLP Announces the Investigation of Dial Global, Inc. (DIAL) Over the Proposed Sale of the Company to Cumulus Media Inc.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Dial Global, Inc. (“Dial” or the “Company”) (OTC: DIAL) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Cumulus Media Inc. in a cash deal valued at approximately $260 million, including the assumption of debt. Under the terms of the proposed transaction, Dial’s stockholders will receive $0.155 for each share of Dial common stock they own. This is despite the fact that Dial has traded as high as $3.40 per share over the past year.
The investigation focuses on whether Dial’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Dial’s shareholders.
If you own common stock in Dial and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.