The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Tribune Media Company (NYSE: TRCO) who purchased shares between November 29, 2017 and July 16, 2018. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.
In particular, the Tribune Media lawsuit alleges that (1) Sinclair Broadcasting Group, Inc., which had agreed to merge with Tribune, was refusing to divest itself of television stations in certain markets necessary in order to secure regulatory approval; and (2) Sinclair was taking the position that it was not legally or contractually obligated to complete the identified divestitures to ensure regulatory approval.
Shareholders have until November 13, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
To learn more and keep informed, complete this form >