WAYNE, Pa., Jan. 9, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP is investigating potential claims against the board of directors of Sirius XM Holdings Inc. ("Sirius XM" or the "Company") (NASDAQ: SIRI) concerning possible breaches of fiduciary duty and other violations of law related to the Company's receipt of a proposal to be acquired by Liberty Media Corporation ("Liberty Media").
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If you own shares of Sirius XM and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/siri. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com.
Under the terms of the proposal, public shareholders of Sirius would receive 0.0760 of a new share of Liberty Media Series C common stock for each share of Sirius they own. The proposed exchange ratio of 0.0760 would value Sirius common shares at approximately $3.68 per share based on closing prices of Liberty's Series A shares on Friday, January 3, 2014.
Our investigation concerns possible breaches of fiduciary duty and other violations of state law by Sirius XM's Board of Directors for not acting in the Company's shareholders' best interests in connection with the sale process.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
SOURCE Ryan & Maniskas, LLP
