in Newswire Published on September 8, 2017

Lawsuit: HSN Files Misleading Proxy Statement, Demands Stockholder Support

by Erin Shaak

Last Updated on May 8, 2018

View Comments

McClure v. HSN, Inc. et al.

Filed: September 7, 2017 ◆§ 1:17-cv-01279-UNA

• Read Complaint

Defendant(s)

HSN, Inc.

Law(s)

The Securities Exchange Act of 1934

State(s)

Delaware

Categories

Securities

HSN, Inc. and its board of directors are facing a proposed class action filed by a stockholder over the company’s allegedly misleading proxy statement regarding a potential merger between HSN and Liberty Interactive Corporation. The suit claims the defendants recommended shareholders vote in favor of the merger, which the plaintiff says represents a $2.1 billion deal that “fails to adequately compensate” HSN’s stockholders in light of the company’s recent growth. Before the vote, however, the lawsuit argues that the defendants must release missing details concerning the company’s financial projections and the valuation analyses performed by its financial advisors. Without this information, the plaintiff alleges, the proxy statement is misleading and stockholders are unable to make an informed decision regarding the potential transaction.

Case Spotlight

Video Game Addiction Lawsuits

If your child suffers from video game addiction — including Fortnite addiction or Roblox addiction — you may be able to take legal action. Gamers 18 to 22 may also qualify.

Learn more:Video Game Addiction Lawsuit

Depo-Provera Lawsuits

Anyone who received Depo-Provera or Depo-Provera SubQ injections and has been diagnosed with meningioma, a type of brain tumor, may be able to take legal action.

How Do I Join a Class Action Lawsuit?

Did you know there's usually nothing you need to do to join, sign up for, or add your name to new class action lawsuits when they're initially filed?

Read more here: How Do I Join a Class Action Lawsuit?