Business
Lee Enterprises Comments on Favorable Ruling from Delaware Court of Chancery
Court Rules Against Alden for Second Time, Denying All of Its Latest Motions Annual Shareholder Meeting To Be Held As Scheduled on March 10 DAVENPORT, Iowa,
About this update from Lee Enterprises, Incorporated
[{"type":"text","content":"Court Rules Against Alden for Second Time, Denying All of Its Latest Motions Annual Shareholder Meeting To Be Held As Scheduled on March 10 DAVENPORT, Iowa, Feb. 25, 2022 (GLOBE NEWSWIRE) -- Lee Enterprises, Incorporated (NASDAQ: LEE) announced that the Delaware Court of Chancery today denied all of the motions brought by Alden Global Capital LLC (together with its affiliates, “Alden”), which were aimed at delaying the Company’s 2022 Annual Meeting. The Company issued the following statement: “This is now the second court ruling in less than two weeks rejecting Alden’s desperate efforts to destabilize Lee and push its grossly undervalued proposal to purchase the Company. Lee applauds the Court’s latest decision and looks forward to holding its 2022 Annual Meeting on March 10, 2022, as planned.” Lee urges shareholders to vote FOR all three of Lee’s proposed director nominees – Mary E. Junck, Herbert W. Moloney and Kevin D. Mowbray – at the Company’s 2022 Annual Meeting. More information related to Lee’s 2022 Annual Meeting can be found at investors.lee.net/2022-annual-meeting. If you have any questions or require any assistance in voting your shares, please contact Lee’s proxy solicitor: Morrow Sodali LLC509 Madison Avenue Suite 1206New York, NY 10022Shareholders Call Toll Free: 800-662-5200Banks, Brokers, Trustees, and Other Nominees Call Collect: 203-658-9400Email: [email protected] About Lee EnterprisesLee Enterprises is a major subscription and advertising platform and a leading provider of local news and information, with daily newspapers, rapidly growing digital products and over 350 weekly and specialty publications serving 77 markets in 26 states. Year to date, Lee’s newspapers have average circulation of 1.0 million, and our legacy website, including acquisitions, reach more than 47 million digital unique visitors. Lee’s markets include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; Davenport, IA; and Tucson, AZ. Lee Common Stock is traded on NASDAQ under the symbol LEE. For more information about Lee, please visit www.lee.net. Forward-Looking Statements The information provided in this communication may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties,...