Ryan & Maniskas, LLP ( www.rmclasslaw.com/cases/prm) is investigating potential claims against the board of directors of PRIMEDIA Inc. ("PRIMEDIA" or the "Company") (NYSE: PRM) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell PRIMEDIA to affiliates of TPG Capital in a transaction valued at approximately $525 million. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of PRIMEDIA. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/prm. Under the terms of the definitive agreement, PRIMEDIA shareholders will receive $7.10 in cash for each share of PRIMEDIA common stock that they own. If you own shares of PRIMEDIA and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/prm. You may also email Mr. Maniskas at email@example.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com. Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
Shares of Primedia (NYSE:PRM) have taken a tremendous swing upward. The stock is trading at $7.02 as of 10:02 a.m. ET, 60.2% above Friday's closing price of $4.38. Volume is at 1.6 million, 26.5 times the daily average of 59,900.
The ex-dividend date for Primedia (NYSE:PRM) is tomorrow, March 10, 2011. Owners of shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $4.58 as of 9:40 a.m., the dividend yield is 6.5%.