The Ademi Firm is investigating DallasNews (NYSE: DALN) for possible breaches of fiduciary duty and other violations of law in its transaction with Hearst.
In the transaction, shareholders of DallasNews will receive $14.00 per share in cash. DallasNews insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for DallasNews by imposing a significant penalty if DallasNews accepts a competing bid. We are investigating the conduct of the DallasNews board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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