Lawsuit for Investors in Shares of Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) Announced by Shareholders Foundation

SAN DIEGO, CA, September 12, 2018 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in shares of Sinclair Broadcast Group, Inc. (NASDAQ: SBGI).

Investors, who purchased shares of Sinclair Broadcast Group, Inc. (NASDAQ: SBGI), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.

On May 8, 2017, Sinclair Broadcast Group, Inc. and Tribune Media Co. announced that they have entered into an agreement under which Sinclair Broadcast Group, Inc will acquire 100% of the issued and outstanding shares of Tribune Media Co. for $43.50 per share.

On August 3, 2017, Sinclair Broadcast Group, Inc filed a Form with the U.S. Securities and Exchange Commission disclosing that the U.S. Department of Justice had requested additional information and documentary material pertaining to the agreement.

On July 26, 2018, post-market, it was reported that the U.S. Department of Justice (''DOJ'') is investigating whether Tribune Media Company, Sinclair Broadcast Group, Inc., and other independent television station owners had violated antitrust law by "coordinat[ing] efforts when their ad sales teams communicated with each other about their performance, potentially leading to higher rates for TV commercials.''

On August 9, 2018, a lawsuit was filed against Sinclair Broadcast Group, Inc. over alleged securities laws violations. More specifically, the plaintiff claims that the defendants allegedly made false and/or misleading statements and/or failed to disclose that the Sinclair/Tribune Merger was not in compliance with FCC rules and regulations, that Sinclair Broadcast Group was not using its best efforts to eliminate any impediment to regulatory approval, that Sinclair Broadcast Group, Inc was engaging in non-arm's length transactions with buyers connected to Sinclair's controlling shareholders in order to skirt FCC ownership rules, and that, as a result of the foregoing, Defendant's public statements were materially false and/or misleading and/or lacked a reasonable basis.

Those who purchased Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: The Shareholders Foundation, Inc.

Source: Shareholders Foundation, Inc.