Law Office of Brodsky & Smith, LLC Announces Investigation of
New Frontier Media, Inc.
BALA CYNWYD, Pa., Oct. 18, 2012 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of New Frontier
Media, Inc. ("New Frontier" or the "Company") (Nasdaq: NOOF)
relating to the proposed acquisition by LFP Broadcasting, LLC.
("LFP").
Under the terms of the transaction, New Frontier shareholders
will receive only $2.02 in cash, plus
a contingent cash payment of no more than $0.06 per share of New Frontier common stock if
New Frontier's available cash balance at closing of the proposed
acquisition exceeds $11.514 million,
for each share on New Frontier common stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of New
Frontier for not acting in the Company's shareholders' best
interests in connection with the sale process to LFP. The
transaction may undervalue the Company as New Frontier stock traded
at $2.13 on February 9, 2011 and an analyst has set a
$4.00 per share price target on New
Frontier.
If you own shares of New Frontier stock and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith,
LLC, Two Bala Plaza, Suite 602, Bala
Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/488-noof-new-frontier-media-inc.html, by
calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC