SFX Entertainment Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation of Proposed Acquisition by Its CEO
February 26, 2015 Bernstein Liebhard LLP is investigating whether the Board of Directors of SFX Entertainment Inc. (“SFX” or the “Company”) (NASDAQ: SFXE), as well as the Company’s controlling shareholder, Robert F.X. Sillerman (“Mr. Sillerman”), who also serves as Chief Executive Officer and Executive Chairman of the Company, are breaching their fiduciary duties in connection with Mr. Sillerman’s offer to purchase SFX’s publicly-held shares.
Under the terms of the proposed transaction, SFX shareholders will receive $4.75 in cash for each share of common stock not owned by Mr. Sillerman. The investigation is focused on the potential unfairness of the price to SFX shareholders and the process by which the proposal was formulated by Mr. Sillerman and is being considered by SFX’s Board of Directors.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last twelve years.