In the news release, The Law Office of Robbins Arroyo LLP
Announces Class Action Lawsuit Against Focus Media Holding Limited,
issued 13-Mar-2013 by Robbins Arroyo
LLP over PR Newswire, we are advised by the company that the fourth
paragraph, first sentence, should read "The complaint seeks
injunctive relief on behalf of the named plaintiff and all other
Focus Media shareholders (the "Class") as of December 19, 2012" rather than "The complaint
seeks injunctive relief on behalf of the named plaintiff and all
other Focus Media shareholders (the "Class") as of February 22, 2013" as originally issued
inadvertently. The complete, corrected release follows:
The Law Office of Robbins Arroyo LLP Announces Class Action Lawsuit
Against Focus Media Holding Limited
SAN DIEGO, March 13, 2013 /PRNewswire/ -- Shareholder
rights attorneys at Robbins Arroyo LLP announce that the firm
commenced a class action lawsuit on February
22, 2013, in the U.S. District Court, Northern District of
California, San Francisco
Division, on behalf of the holders of Focus Media Holding Limited
("Focus Media") (NASDAQ: FMCN) common stock against Focus Media and
its board of directors for, among other things, violations of
sections 14(a) and 20(a) of the Securities and Exchange Act of 1934
(the "Exchange Act") in connection with the proposed acquisition of
Focus Media by Giovanna Parent Limited ("Giovanna").
(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)
The complaint arises out of a December 19, 2012 press release announcing that
Focus Media had entered into a definitive merger agreement with
Giovanna, pursuant to which Focus Media shareholders would receive
$5.50 in cash for each share of Focus
Media they own (the "Proposed
Transaction").
The complaint alleges that certain of the defendants, in
connection with the Proposed Transaction, breached or aided and
abetted the other defendants' breaches of their fiduciary duties of
loyalty and due care owed to Focus Media
shareholders. The complaint further alleges
that, in an attempt to secure shareholder approval of the Proposed
Transaction, the defendants filed a materially false and misleading
Form SC13E-3 transaction statement with the U.S. Securities and
Exchange Commission in violation of sections 14(a) and 20(a) of the
Exchange Act. The omitted and/or misrepresented information is
believed to be material to Focus Media shareholders' ability to
make an informed decision about whether or not to vote in favor of
the Proposed Transaction.
The complaint seeks injunctive relief on behalf of the
named plaintiff and all other Focus Media shareholders (the
"Class") as of December 19,
2012. The plaintiff is represented by
Robbins Arroyo LLP.
If you wish to serve as lead plaintiff, you must move the
Court no later than sixty days from March
13, 2013. If you wish to discuss this
action or have any questions concerning this notice or your rights
or interests, please contact attorney Darnell R. Donahue of Robbins Arroyo LLP at
800-350-6003, via the shareholder information form on
our website, or by e-mail at
info@robbinsarroyo.com. Any member of the
Class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
Class member.
Robbins Arroyo LLP, a nationally recognized leader in the
area of shareholder rights litigation, represents individual and
institutional investors in securities class action lawsuits and
shareholder derivative actions. Robbins
Arroyo LLP has helped its clients realize more than $1 billion of value for themselves and the
companies in which they have invested. Past
results do not guarantee similar outcomes.
For more information about the firm, please go to
http://www.robbinsarroyo.com.
Press release link:
http://www.robbinsarroyo.com/shareholders-rights-blog/focus-media-holding-limited/
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
SOURCE Robbins Arroyo LLP
