|By PR Newswire||
|September 3, 2013 07:42 PM EDT||
NEW YORK, Sept. 3, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Dial Global, Inc. ("Dial Global" or the "Company") (OTC Pink: DIAL) (ISIN: US25247X1072) (CUSIP: 25247X107) concerning the proposed acquisition of Dial Global by Cumulus Media Inc. in a transaction valued at approximately $260 million.
The investigation concerns whether the Dial Global directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, each outstanding share of common stock of the Company will be converted into the right to receive $0.155. However, the Total Assets and Revenue multiples are below the averages of comparable transactions, and the Company's stock closed above the offered price on August 30, 2013.
Dial Global shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at email@example.com or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
212-661-1100 ext. 237
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP