Law Firm Brower Piven Announces Investigation Of Virgin Media Inc.

The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Virgin Media Inc. (“Virgin Media” or the “Company”) (Nasdaq: “VMED”) and other violations of state law by the board of directors of Virgin Media relating to the proposed acquisition of the Company by Liberty Global, Inc. (“Liberty”). The firm’s investigation seeks to determine, among other things, whether the board of directors of Virgin Media breached their fiduciary duties by failing to maximize shareholder value.

According to Reuters, Virgin Media shareholders will approximately receive $47.87 in cash and stock for each share of Virgin Media common stock they own. The proposed transaction includes $17.50 in cash, 0.2582 Liberty Class A shares, and 0.1928 Liberty Class C shares for each Virgin Media share. This values the cash and stock part of the deal, excluding debt, at $16 billion. According to Bloomberg, at least one analyst price target is above the deal price.

If you currently own common stock of Virgin Media and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.

Copyright Business Wire 2010

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