STEVENSON, Md., Sept. 24, 2013 (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 Supreme Court, New York County on behalf of all common stockholders of Dial Global, Inc. ("Dial Global" or the "Company") (OTC Pink:DIAL).
According to the complaint, under the terms of the proposed transaction, Cumulus Media, Inc. ("Cumulus") would acquire the outstanding shares of Dial Global for $0.155 per share in cash. The complaint alleges that the proposed consideration agreed to by the defendants is unfair, and the proposed transaction is the result of an unfair process that fails to maximize stockholder value and is designed to ensure the acquisition of Dial Global by Cumulus on terms preferential to Cumulus and Company insiders but detrimental to Dial Global public stockholders.
If you currently own common stock of Dial Global and would like to learn more about the class action lawsuit, 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