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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of RLJ Entertainment, Inc. (NASDAQ: RLJE) to AMC Networks Inc. (NASDAQGS: AMCX) for $6.25 per share. Holders of the Company’s outstanding preferred stock may elect to receive $7.8125 or a share of preferred stock in the post-merger entity for each share of preferred common stock they own.
The RLJ Entertainment merger investigation concerns whether the Board of RLJ Entertainment breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether AMC Networks Inc. is underpaying for RLJ Entertainment shares, thus unlawfully harming RLJ Entertainment shareholders.
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