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Stock impact report

Tegna looks into investor claim against Standard General [Reuters]

TEGNA Inc (TGNA) 
Last tegna inc earnings: 2/11 08:01 am Check Earnings Report
US:NYSE Investor Relations: investors.tegna.com
Company Research Source: Reuters
Tegna looks into investor claim against Standard General (Reuters) - Tegna Inc ( TGNA.N ) said on Monday it was investigating an investor’s claim that the U.S. regional TV station operator should recover trading profits from its largest shareholder, hedge fund Standard General LP. Hunter & Kmiec, a law firm representing a small Tegna shareholder, wrote to Tegna’s board last week asking it to investigate whether Standard General breached U.S. Securities and Exchange Commission (SEC) rules in its trading of Tegna’s stock, according to people familiar with the letter. Standard General, which is engaged in a proxy contest to replace four of Tegna’s board directors, had disclosed earlier last week it converted about a quarter of its 9.7% stake in the company into swaps. These are derivative contracts that allowed Standard General to cash out on these shares while keeping economic exposure to them. The trades occurred between March 25 and March 31, according to a Standard General regulato Show less Read more
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