Goldfarb Branham LLP is investigating whether the Board of Directors of PRIMEDIA (NYSE: PRM) violated shareholder protection laws in connection with the buyout by TPG Capital. If you are a PRIMEDIA shareholder – or have knowledge of this transaction – you are encouraged to contact attorney Hamilton Lindley at 877-583-2855 or firstname.lastname@example.org. “Under the terms of the agreement, PRIMEDIA stockholders will receive $7.10 per share in cash,” securities lawyer Hamilton Lindley said. “Fifty-eight percent of the investors already approved the deal in voting agreements made prior to the announcement to the public. Certain financial multiples – like EBITDA and net income – appear low based on similar acquisitions. Our potential class action lawsuit seeks to ensure that the takeover maximizes value for investors in PRIMEDIA.” Goldfarb Branham has significant experience representing individual and institutional investors. Lawyers at the firm have represented investors in over 100 shareholder class action cases. A firm securities lawyer, Hamilton Lindley, can be reached at email@example.com or 877-583-2855 to discuss the impact of this buyout on PRIMEDIA shareholders.
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%.