Levi & Korsinsky, LLP Investigates Breach of Fiduciary Duty by the Board of Hearst-Argyle Television, Inc.

Mon. May 04, 2009; Posted: 04:55 PM

NEW YORK, May 4, 2009 (GlobeNewswire via COMTEX) -- HTV | Quote | Chart | News | PowerRating -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the board of directors of Hearst-Argyle Television, Inc. ("Hearst-Argyle" or the "Company") (NYSE:HTV) arising out of their attempt to sell the Company to Hearst Broadcasting, Inc. Under the terms of the proposal, Hearst-Argyle shareholders will receive $4.50 for every Hearst-Argyle share they own. Hearst previously offered Hearst-Argyle shareholders $4.00 a share for their stock with a plan to then acquire remaining shares through a short-form merger. On April 27, 2009, Hearst increased its offer to $4.50 a share. The deal offered continues to appear to be unfair to Hearst-Argyle shareholders given that the Company's stock was trading at over $23.00 a share in September 2008 and, as recently as January 2009, the stock traded at $6.50 -- $2.00 a share more than the current Hearst offer.

If you own common stock in Hearst-Argyle and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/htv.html

L&K has experience in prosecuting investor securities litigation and an extensive practice in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP
          Eduard Korsinsky, Esq.
          Juan E. Monteverde, Esq.
          (212) 363-7500
          Fax: (212) 363-7171
          www.zlk.com
          39 Broadway, Suite 1601
          New York, NY 10006

For full details for HTV click here.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.