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If you purchased shares of Cablevision Systems Corporation (NYSE:CVC) and currently hold any of those NYSE:CVC shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
September 28, 2015 (Shareholders Foundation) - An investor who currently holds shares of Cablevision Systems Corporation (NYSE:CVC), filed a lawsuit in effort to halt the proposed takeover of Cablevision Systems by Altice N.V. for $34.90 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CVC stockholders by agreeing to sell Cablevision Systems Corporation too cheaply via an unfair process to Altice N.V.
On September 17, 2015, Altice N.V. and Cablevision Systems Corporation (NYSE:CVC) announced that they have entered into an agreement for Altice to acquire Cablevision Systems Corporation (NYSE:CVC). Under the agreement, Altice will deliver $34.90 in cash for each Cablevision Systems Corporation (NYSE:CVC) share.
However, the plaintiff claims that the proposed consideration NYSE:CVC shareholders will receive is grossly inadequate and undervalues Cablevision Systems Corporation. Cablevision Systems Corporation reported that its annual Total Revenue rose from over $6.13 billion in 2012 to over $6.46 billion in 2014. Shares of Cablevision Systems Corporation (NYSE:CVC) grew from $13.76 per share in March 2103 to as high as $28.22 per share in July 2015. In addition, the plaintiff claims that the process is also unfair to NYSE:CVC stockholders.