Investigations
WideOpenWest, Inc.
Overview
Overview
- Deadline:
- Upcoming
| Company Name: | Company Name: WideOpenWest, Inc. |
| Stock Symbol: | Stock Symbol: WOW |
Bleichmar Fonti & Auld LLP is currently investigating the potential merger between WideOpenWest, Inc. (NYSE: WOW), and Crestview and DigitalBridge Investments, LLC for $4.80 per share to determine whether WideOpenWest’s board of directors is: (1) agreeing to an unfair amount to be paid to shareholders; (2) subject to conflicts of interest; and/or (3) engaged in an unfair process.
If you still own shares of WideOpenWest, you are encouraged to fill out the form below to get more information and speak with an attorney about your rights.
Investigation Details:
BFA is investigating whether the $4.80 per share offer for WideOpenWest, Inc. (“WOW” or the “Company”) made by Crestview Partners and Digital Bridge Investments LLC is unfair to shareholders. One of its largest shareholders has already publicly stated that the price is unfair. LB Partners, a 7.9% holder of WOW common stock, issued a public letter on May 30 deriding the $4.80 offer as inadequate.
According to that letter, LB Partners believes that a “conservative” value for the Company is “north of $10.00 per share.” Moreover, LB Partners believes that Crestview is opportunistically timing the negotiations to take advantage of material capital investments that are yet to turn a profit.
Crestview Partners currently owns 38% of WOW’s common stock and has appointed or has close relationships with a majority of the Board. Through its stock ownership and board representation, we believe that Crestview Partners controls WOW. Accordingly, BFA believes that shareholders may have legal claims under Delaware law.
When a company is acquired by a controlling shareholder, the deal must be conditioned on the approval of a special committee and a majority vote of the minority shareholders to avoid heightened scrutiny under Delaware law. Here, Crestview’s proposal only conditions the offer on approval by a Special Committee, without reference to a minority vote.
While the Special Committee may negotiate for a greater amount of consideration, we believe Crestview is opportunistically timing the merger negotiations to coincide with a temporary depression in the Company’s stock price.
Next Steps:
If you currently own shares of WideOpenWest, Inc. you may have legal options and you are encouraged to submit your information to speak with an attorney.
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Contact:
Ross Shikowitz
ross@bfalaw.com
212-789-2303
Fill out the form below for more information.
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.
If you still own shares of WideOpenWest, you are encouraged to fill out the form below to get more information and speak with an attorney about your rights.
Investigation Details:
BFA is investigating whether the $4.80 per share offer for WideOpenWest, Inc. (“WOW” or the “Company”) made by Crestview Partners and Digital Bridge Investments LLC is unfair to shareholders. One of its largest shareholders has already publicly stated that the price is unfair. LB Partners, a 7.9% holder of WOW common stock, issued a public letter on May 30 deriding the $4.80 offer as inadequate.
According to that letter, LB Partners believes that a “conservative” value for the Company is “north of $10.00 per share.” Moreover, LB Partners believes that Crestview is opportunistically timing the negotiations to take advantage of material capital investments that are yet to turn a profit.
Crestview Partners currently owns 38% of WOW’s common stock and has appointed or has close relationships with a majority of the Board. Through its stock ownership and board representation, we believe that Crestview Partners controls WOW. Accordingly, BFA believes that shareholders may have legal claims under Delaware law.
When a company is acquired by a controlling shareholder, the deal must be conditioned on the approval of a special committee and a majority vote of the minority shareholders to avoid heightened scrutiny under Delaware law. Here, Crestview’s proposal only conditions the offer on approval by a Special Committee, without reference to a minority vote.
While the Special Committee may negotiate for a greater amount of consideration, we believe Crestview is opportunistically timing the merger negotiations to coincide with a temporary depression in the Company’s stock price.
Next Steps:
If you currently own shares of WideOpenWest, Inc. you may have legal options and you are encouraged to submit your information to speak with an attorney.
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Contact:
Ross Shikowitz
ross@bfalaw.com
212-789-2303
Fill out the form below for more information.
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.