Faruqi and Faruqui, LLP Logo
Share this page

HSN, Inc. (HSNI)

NASDAQ:HSNI

Summary

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against HSN, Inc.

Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, case No. 1:17-cv-01279, on behalf of shareholders of HSN, Inc.  (“HSN” or the “Company”) (NASDAQ:HSNI) who have been harmed by HSN’s and its board of directors’ (the “Board”) alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with  the proposed merger of the Company with affiliates of Liberty Interactive Corporation (“Liberty”).

On July 5, 2017, the Board caused the Company to enter into an Agreement and Plan of Merger (the “Proposed Transaction”) under which HSN’s shareholders will stand to receive 1.650 shares of Liberty’s Series A QVC Group common stock for each share of HSN stock they own (the “Merger Consideration”).  Based on the closing price on September 26, 2017, the Merger Consideration represents an implied value of approximately $39.67 per share.

The complaint alleges that the Form S-4 Registration/Joint Proxy Statement (the “S-4”) filed with the Securities and Exchange Commission (“SEC”) on August 31, 2017, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company’s financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to HSN shareholders.

Take Action

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from September 27, 2017.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.  If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact Nadeem Faruqi, Esq. either via e-mail at nfaruqi@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330 or James M. Wilson, Jr., Esq. at jwilson@faruqilaw.com.

Request Information

Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.

  • Company:
    HSN, Inc. (HSNI)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

James M. Wilson, Jr.
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 09/27/2017

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.