STEVENSON, Md., Feb. 18, 2014 (GLOBE NEWSWIRE) -- The securities litigation firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the New York State Supreme Court, County of New York, on behalf of all common stockholders of Time Warner Cable Inc. ("Time Warner Cable" or the "Company") (NYSE: TWC ).
According to the complaint, under the terms of the proposed transaction, Comcast Corporation ("Comcast") (Nasdaq: CMCSA ) (Nasdaq: CMCSK ) would acquire the outstanding shares of Time Warner Cable by exchanging each share of Time Warner Cable common stock for 2.875 shares of CMCSA. Based on Monday's closing price for Comcast shares, as reported by Yahoo! Finance, the proposed consideration has a value of approximately $153.87 per Time Warner Cable share. The complaint alleges that the proposed transaction is the result of an unfair process that fails to maximize stockholder value, and is designed to ensure the acquisition of Time Warner Cable by Comcast on terms preferential to Comcast and Company insiders but detrimental to Time Warner Cable public stockholders. The complaint also alleges that the proposed consideration agreed to by the defendants is grossly unfair and faces high regulatory hurdles.
If you currently own common stock of Time Warner Cable and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com , by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
Brower Piven, A Professional Corporation Stevenson, Maryland Charles J. Piven, (410) 415-6616
