In Re: Cox Radio Shareholders


12/09/09 – 12/09/09


Settlement hearing.

Via Bloomberg: "Cox Enterprises Inc., the communications and media company, agreed to settle an investor lawsuit filed six months ago challenging fairness of its offer to buy the outstanding shares of Cox Radio Inc.

Cox Radio stockholders sued in Delaware Chancery Court contending the proposed $3.80-a-share price was inadequate, and the 78 percent stakeholder ultimately agreed to raise the price to $4.80 a share. The buyout was completed in May.

“The efforts of plaintiffs’ counsel in the Delaware action were among the causal factors that led to the increased consideration,” Cox Enterprises lawyers said in settlement papers made public today in Wilmington."

Recording Disclaimer: This proceeding was recorded in full.

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