On April 24, 2014, the Jefferson County Circuit Court of the Commonwealth of Kentucky entered an order approving a settlement of the class action prosecuted by Wohl & Fruchter and its co-counsel on behalf of the minority public unitholders of NTS, which challenged the fairness of the proposed going-private squeeze-out merger by NTS’s controlling unitholder announced in December 2012.
The settlement provides for a cash payment of $9.25 per unit, less attorneys’ fees and expenses awarded by the Court.
The $9.25 per unit merger consideration represents a 23% increase over the $7.50 per unit consideration approved by the Special Committee of the NTS board of directors under the merger agreement announced in December 2012.
Click here to read more about the history of this litigation.