Ademi Firm investigates WideOpenWest for fiduciary duty breaches.

The Ademi Firm is investigating WideOpenWest for possible breaches of fiduciary duty and other law violations in its transaction with DigitalBridge Investments. The deal involves WideOpenWest shareholders receiving $5.20 per share in cash, valued at approximately $1.5 billion. Crestview, the largest stockholder, will roll over its existing holdings. WideOpenWest insiders will receive significant benefits under change of control arrangements. The transaction agreement also imposes a substantial penalty if WideOpenWest accepts a competing bid.

The Ademi Firm has initiated an investigation into WideOpenWest (WOW), NYSE: WOW, regarding potential breaches of fiduciary duty and other legal violations in its transaction with DigitalBridge Investments. The investigation centers on whether the transaction is fair to public shareholders and whether the board of directors is fulfilling its fiduciary duties.

The proposed transaction involves DigitalBridge Investments and Crestview Partners acquiring all outstanding shares of WOW for $5.20 per share in an all-cash deal valued at approximately $1.5 billion. Crestview, which owns around 37% of WOW's shares, will roll over its existing holdings rather than receive cash. Insiders of WOW stand to benefit significantly under change of control arrangements.

The Ademi Firm alleges that the transaction agreement imposes unreasonable limitations on competing transactions, potentially penalizing WOW if it accepts a competing bid. This is a crucial aspect of the investigation, as it raises questions about whether the board is acting in the best interests of all shareholders.

The investigation is open to all shareholders of WOW, who can join by contacting the Ademi Firm at toll-free number 866-264-3995 or via email at gademi@ademilaw.com. The firm specializes in shareholder litigation involving buyouts, mergers, and individual shareholder rights.

The transaction is expected to close by the end of the year or in the first quarter of 2026, subject to stockholder approval and required regulatory approvals. Upon completion, WOW will no longer be traded or listed on any public securities exchange.

The investigation highlights the importance of transparency and fairness in corporate transactions, ensuring that all stakeholders are treated equitably.

References:
[1] https://www.prnewswire.com/news-releases/shareholder-alert-the-ademi-firm-investigates-whether-wideopenwest-inc-is-obtaining-a-fair-price-for-its-public-shareholders-302530952.html
[2] https://www.morningstar.com/news/pr-newswire/20250815cg52384/shareholder-alert-the-ademi-firm-investigates-whether-wideopenwest-inc-is-obtaining-a-fair-price-for-its-public-shareholders
[3] https://www.morningstar.com/news/pr-newswire/20250811sf48900/wideopenwest-wow-inc-to-be-taken-private-by-digitalbridge-group-inc-and-crestview-partners-in-15-billion-transaction