Investigation Overview
April 28, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of CC Media Holdings Inc (OTCMKTS:CCMO) concerning whether certain CC Media Holdings officers and directors possibly breached their fiduciary duties in connection with certain statements was announced.
The investigation by a law firm concerns whether certain CC Media Holdings officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
CC Media Holdings Inc reported that its annual Total Revenue rose from over $6.16 billion in 2011 to over $6.24 billion in 2013 and that its Net Loss increased from $302.09 million to $606.88 million.
Shares of CC Media Holdings Inc (OTCMKTS:CCMO) grew from $1.30 per share in August 2012 to as high as $8.00 per share in February 2014.
On April 28, 2014, CC Media Holdings Inc shares closed at $7.20 per share.