Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Belo Corp. Over the Proposed Sale of the Company to Gannett Co., 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 Belo Corp. (“Belo” or the “Company”) (NYSE: BLC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Gannett Co., Inc. (NYSE: GCI) in a deal valued at approximately $1.5 billion plus the assumption of $715 million in debt. Under the terms of the proposed transaction, Belo’s stockholders will receive $13.75 in cash for each share of Belo common stock they own.
The investigation focuses on whether Belo’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 Belo’s shareholders.
If you own common stock in Belo and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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