Kaskela Law LLC Announces Stockholder Investigation of Hemisphere Media Group, Inc. (HMTV) Following Announced Agreement to Sell the Company at $7.00 Per Share

PHILADELPHIA, June 14, 2022 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating Hemisphere Media Group, Inc. ("Hemisphere") (NASDAQ: HMTV) on behalf of the company's shareholders.

On May 9, 2022, Hemisphere announced that it had agreed to be acquired by its controlling stockholder, Gato Investments LP ("Gato"), a portfolio investment of Searchlight Capital Partners, L.P., at a price of $7.00 per share.  Following the closing of the proposed transaction, shares of Hemisphere's stock will no longer be publicly traded.

According to Edenbrook Capital, LLC ("Edenbrook"), a holder of approximately 15% of Hemisphere's publicly traded shares, the takeover transaction "is borne out of a flawed, unfair process that benefits insiders at the expense of public shareholders."  Further, Edenbrook calculates "that the equity value for public shareholders should be at least $16 – 23 per share."

The investigation seeks to determine: (i) whether the transaction as structured is fair to Hemisphere shareholders; (ii) whether HMTV shareholders will be receiving sufficient consideration for their shares; and (iii) whether Hemisphere's directors have breached their fiduciary duties to the company's stockholders in agreeing to sell the company to Gato.

Hemisphere shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected]) or online at https://kaskelalaw.com/cases/hemisphere-media-group-inc/ , for additional information about this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

CONTACT:
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.

KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 – 0750
(888) 715 – 1740
www.kaskelalaw.com

SOURCE Kaskela Law LLC

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