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WIDEOPENWEST ALERT: Is $4.80 Per Share Too Low for WideOpenWest (NYSE: WOW)? BFA Law is Investigating and Urges Shareholders to Contact the Firm About Your Rights
Globe Newswire 11-Jun-2024 6:44 AM
NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) -- Leading law firm Bleichmar Fonti & Auld LLP is investigating the WideOpenWest (NYSE:WOW) merger with DigitalBridge and Crestview. If you invested in WideOpenWest you are encouraged to contact BFA Law by visiting https://www.bfalaw.com/cases/wideopenwest-inc-investigation.
Claim Details:
On May 3, 2024, WideOpenWest, Inc. announced receipt of an unsolicited non-binding preliminary proposal from DigitalBridge Investments, LLC and various Crestview entities to purchase all of the outstanding shares of WOW! that Crestview does not currently own for $4.80 per share in cash. BFA Law is currently investigating the proposal to determine whether WideOpenWest, Inc.'s board of directors is conflicted, engaging in an unfair process, and agreeing to an unfair amount to be paid to shareholders.
While the Special Committee may negotiate for a greater amount of consideration, we believe Crestview is opportunistically timing the merger negotiations to coincide with a temporary depression in the Company's stock price. For example, on May 30, 2024, LB Partners, a 7.9% holder of WOW common stock, issued a public letter deriding the $4.80 offer as inadequate. According to that letter, LB Partners believes that a "conservative" value for the Company is "north of $10.00 per share." Moreover, LB Partners believes that Crestview is opportunistically timing the negotiations to take advantage of material capital investments that are yet to turn a profit.
Shareholders are encouraged to submit your information to find out about your rights.
If you currently own shares of WideOpenWest, Inc. you may have legal options and are encouraged to contact the firm.
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation, there is no cost to you. The firm will seek court approval for any potential fees and expenses.
To speak with an attorney for more information visit:
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
