Monteverde & Associates PC Files Class Action Lawsuit On Behalf Of Shareholders Of Pandora Media, Inc. In The U.S. District Court For The Northern District Of California

PRNewswire 6-Dec-2018 4:06 PM

NEW YORK, Dec. 6, 2018 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the Northern District of California, Case No. 18-cv-06927-WHO, on behalf of public common shareholders of Pandora Media, Inc. ("Pandora" or the "Company") (NYSE:P) who held Pandora securities and have been harmed by Pandora 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 sale of the Company to Sirius XM Holdings, Inc. ("Sirius") ( the "Proposed Merger").

Monteverde & Associates PC Logo

Under the terms of the Proposed Merger, Pandora shareholders are only anticipated to receive 1.44 shares of Sirius for each share of Pandora common stock they own (the "Merger Consideration"). The complaint alleges that the Merger Consideration is inadequate and that the proxy statement regarding the Proposed Merger (the "Proxy") provides shareholders with materially incomplete and misleading information about the Proposed Merger, in violation of Sections 14(a) and 20(a) of the Exchange Act. In particular, the Proxy contains materially incomplete and misleading information concerning: (i) financial projections for Pandora; and (ii) the valuation analyses conducted by the Company's financial advisors, Centerview Partners LLC and LionTree Advisors LLC.

If you wish to serve as lead plaintiff, you must move the Court no later than February 4, 2019. 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.

Click here for more information: https://monteverdelaw.com/case/pandora-media. It is free and there is no cost or obligation to you.

Monteverde & Associates PC is a national class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating mergers & acquisitions and securities class actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017, and 2018, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 and 2018 Top Rated Lawyer.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2018 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/monteverde--associates-pc-files-class-action-lawsuit-on-behalf-of-shareholders-of-pandora-media-inc-in-the-us-district-court-for-the-northern-district-of-california-300761622.html

SOURCE Monteverde & Associates PC

Wait, Before You Leave...