NEW YORK, Oct. 5, 2018 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Pandora Media, Inc.
("P" or the "Company") (NYSE: P) in connection with the proposed
acquisition of the Company by Sirius XM Holdings, Inc. ("SIRI)
(NASDAQ: SIRI). Under the terms of the acquisition agreement,
P shareholders will be entitled to receive 1.44 SIRI shares for
each P share they own, representing consideration of $8.85 based on SIRI's October 3 trading price of $6.15.
If you own P shares and wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests, please contact:
Joshua
Rubin
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(888)593-4771
stockinfo@weisslawllp.com
Visit our
website
http://www.weisslawllp.com/pandora-media-inc/
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WeissLaw is investigating whether P's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $13.00 per P share, or $4.15 above the per-share consideration.
Additionally, the deal will secure SIRI's position as the
world's largest audio entertainment company. According to
SIRI's CEO, the acquisition will diversify its revenue stream and
broaden its technical capabilities.
Given these facts, WeissLaw is concentrating its investigation
on whether P's Board conducted a fair process in agreeing to the
proposed acquisition, and whether the proposed acquisition
undervalues the Company.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com.
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SOURCE WeissLaw LLP