The lawsuits brought by two Cablevision stockholders seeking to block the purchase of Cablevision by Altice have been withdrawn.
The suits, brought in Delaware courts by James Gould and Arnold Wandel, were voluntary withdrawn, without a settlement, according to FierceCable. Here’s an excerpt from the filing:
“Because this dismissal is without prejudice as to the claims of the putative class, and plaintiff represents that no compensation in any form has been passed directly or indirectly from any of the defendants to plaintiff or plaintiff’s counsel and no promise to give any such compensation has been made, notice to the putative class is unnecessary,” the filing, dated Dec. 9, said.
The suits were alleging that the $34.90 that Altice is paying per share was too low, but given that Cablevision was trading for lower than that, even after the Altice acquisition was announced.
The Altice takeover is expected to be completed sometime early next year.
Filed Under: Industry regulations, Cables + cable management