PARA ONGOING INVESTIGATION: BFA Act reminds Paramount

NEW YORK, July 22, 2024 (GLOBE NEWSWIRE) — Leading law firm Bleichmar Fonti & Auld LLP is investigating whether Paramount Global’s (Nasdaq: PARA) merger transaction is fair to minority shareholders who are being offered up to $15 per share in exchange for their Paramount Class B shares.

If you are a Paramount shareholder, please send your information to the following address: https://www.bfalaw.com/cases-investigations/paramount-global.

Why is Paramount being investigated by BFA Law?

On July 7, 2024, Paramount Global announced that it had entered into a merger transaction with a consortium led by Skydance Media, RedBird Capital and the Ellison family (the “Skydance Consortium”). Minority shareholders will have no say in the merger transaction because National Amusements, which controls nearly 80% of Paramount’s voting stock, appears unwilling to subject the merger to a minority shareholder vote.

As part of the merger transaction, Class A shareholders will be entitled to a cash payment of $23 per share. However, Class B shareholders will be entitled to a cash payment of $15 per share, which will be prorated if enough shareholders elect to receive the cash payment. BFA is concerned that the disparate treatment of Class B shareholders is unfair and violates Delaware law. As such, BFA believes that the board of directors of Paramount Global and National Amusements may have breached its fiduciary duty to Paramount Global’s Class B shareholders.

Shareholders are encouraged to submit their information to learn about their rights.

Submit your information here: https://www.bfalaw.com/cases-investigations/paramount-global.

Next Steps:

If you currently own shares in Paramount Global, you may have legal options available to you, in which case you are encouraged to contact the company.

All representation is on a contingency basis. There are no costs for you. Shareholders will not be responsible for any court or litigation costs. The Company will seek court approval for any fees and costs.

To speak with an attorney and get more information, visit:

https://www.bfalaw.com/cases-investigations/paramount-global

Or contact us:
Ross Shikowitz
[email protected]
212-789-2303

Why Bleichmar Fonti & Auld LLP?

Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in class actions and shareholder litigation. It was named a Top 5 Plaintiffs Firm for 2023 by ISS SCAS and its lawyers have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Recent notable successes include BFA recovering over $900 million in value from the board of Tesla, Inc. (subject to court approval) and $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, visit https://www.bfalaw.com.

https://www.bfalaw.com/cases-investigations/paramount-global

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