The firm is investigating the proposed sale of Pandora Media, Inc. ("Pandora") (NYSE:P) to Sirius XM Holdings Inc. ("Sirius") (SIRI). Pursuant to the proposed transaction, announced on September 24, 2018 and valued at $3.5 billion, Pandora stockholders will receive 1.44 shares of Siris XM for each share of Pandora common stock owned. The investigation focuses on whether Pandora and its board of directors violated the federal securities laws and/or breached their fiduciary duties to the company’s stockholders by failing to conduct a fair process and whether and by how much the proposed transaction undervalues the Company.
If you are aware of any facts relating to this investigation, or are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, please contact us.
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