GPM Announces Investigation of Alleged Fraud by SFX Entertainment, Inc.
SFX ENTERTAINMENT INC (SFXE)
Company Research
Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) announces that it is investigating potential claims on behalf of investors of SFX Entertainment, Inc. ("SFX" or the "Company") (NASDAQ:SFXE) concerning the Company’s and its officers’ possible violations of federal securities laws in connection with SFX CEO’s alleged recklessness or fraud in proposing a sham purchase of the Company’s outstanding stock. SFX engages in the production of live events and digital entertainment content that focuses on the electronic music culture (EMC) and other festivals. GPM’s investigation focuses on whether the Company made materially false and misleading statements in connection with the proposed acquisition of SFX by Robert F.X. Sillerman ("Sillerman"), SFX's CEO and largest shareholder, for all of the outstanding common stock he did not already own. However, Mr. Sillerman failed to disclose that he alleg
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