Media General said it filed suit alleging...
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Media General said it filed suit alleging that Hollywood producer Burt Sugarman and his affiliates violated federal securities laws in public filings and statements about their $1.8-billion merger proposal to the Richmond, Va., newspaper and television firm. It said the suit in U. S. District Court in Richmond alleges that the Sugarman group made inaccurate and incomplete SEC filings and public statements. Further, it said, the statements appear to be designed to help in a possible proxy contest over three seats on Media General’s board, without first making necessary SEC filings. The media firm’s board again refused to consider the Sugarman proposal.
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