SHAREHOLDER ALERT: WeissLaw LLP Investigates TEGNA Inc.

NEW YORK, Feb. 22, 2022 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of TEGNA Inc. ("TEGNA" or the "Company") (NYSE: TGNA), in connection with the proposed acquisition of the Company by an affiliate of Standard General L.P. ("Standard General"). Under the terms of the merger agreement, the Company's shareholders will receive $24.00 in cash for each share of TEGNA common stock that they hold.  Additionally, TEGNA shareholders will receive additional cash consideration in the form of a "ticking fee," the amount varying depending on the date of the closing of the transaction. If the transaction closes between the 9- and 12-month anniversary of signing, the amount will be $0.00167 per share per day (or $0.05 per month). The amount will increase to $0.0025 per share per day (or $0.075 per month) if the closing occurs between the 12- and 13-month anniversary of signing, $0.00333 per share per day (or $0.10 per month) if the closing occurs between the 13- and 14-month anniversary of signing, and $0.00417 per share per day (or $0.125 per month) if the closing occurs between the 14- and 15-month anniversary of signing. The transaction is valued at approximately $8.6 billion.

If you own TEGNA shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslaw.co/news-and-cases/tgna 
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
305 Broadway, 7^th Floor
New York, NY  10007
(212) 682-3025
(888) 593-4771
[email protected]

WeissLaw LLP is investigating whether (i) TEGNA's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $24.00 per-share merger consideration adequately compensates TEGNA's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected].

SOURCE WeissLaw LLP

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