GAMCO Investors Inc. Files Class Action Lawsuit Over Unfair Merger Terms in Paramount-Skydance Deal
Reuters
Aug 14
<a href="https://laohu8.com/S/GAMI">GAMCO Investors</a> Inc. Files Class Action Lawsuit Over Unfair Merger Terms in Paramount-Skydance Deal
Gamco Investors Inc. has initiated a class action lawsuit in Delaware Chancery Court on behalf of its shareholders, challenging the terms of Paramount Global's merger with Skydance Corporation. The legal action, part of GAMCO's "Project Fishbowl," alleges that National Amusements, Inc. (NAI) and its affiliates received significantly higher compensation for their Paramount Class A shares compared to other Class A shareholders. While NAI reportedly received over $60 per share, other shareholders, including those represented by GAMCO, received only $23 per share. GAMCO is seeking damages over what it considers an unfair and inequitable merger process, which did not account for the value of non-Paramount assets and disregarded requests for a minority shareholder vote.
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