Belo Shareholder Litigation Website
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Welcome to the Belo Shareholder Litigation Website

This website has been established to provide general information related to the proposed Settlement of the Belo Corp. ("Belo" or the "Company") Shareholder Litigation. 

This is a securities class action litigation that is pending in the District Court of the 68th Judicial District, in and for Dallas County, Texas. Defendant Belo was a Dallas-based media company that owned 20 commercial broadcasting television stations and two regional 24-hour cable news television channels.

On June 13, 2013, Belo and Gannett Co., Inc. (“Gannett”) jointly announced that they had entered into a definitive merger agreement (the “Merger Agreement”), under which Gannett, through its wholly-owned subsidiary Delta Acquisition Corp. (“Merger Sub”), would acquire all outstanding shares of Belo for cash consideration of $13.75 per share of Belo common stock (the “Merger”). The Settlement resolves litigation over whether Robert W. Decherd, Dunia A. Shive, Wayne R. Sanders, James M. Moroney III, Henry P. Becton, Jr., M. Anne Szostak, Judith L. Craven, Lloyd D. Ward, Dealey D. Herndon, McHenry T. Tichenor, Jr., and Peter A. Altabef (“Belo’s Directors”) breached their fiduciary duties to Belo stockholders in connection with the Merger and whether Gannett and Belo aided and abetted such alleged breaches of fiduciary duties (the “Settlement”).

The Class includes all persons or entities who held shares of Belo common stock at any time between and including June 1, 2012, when Gannett and Belo entered into discussions, and December 23, 2013, the date of the consummation of the Merger.

The Settlement provides for Belo to make a payment into an interest-bearing account in the amount of Four Million Five Hundred Thousand U.S. Dollars ($4,500,000) (the “Settlement Payment”) that will be distributed as described in the Notice of Pendency and Settlement of Class Action and Hearing on Proposed Settlement (the "Notice"). Moreover, Belo disclosed certain additional information to Belo stockholders in its:

(1) revised preliminary proxy statement on Schedule 14A filed with the SEC on July 23, 2013 (“Revised Preliminary Proxy”);
(2) second revised preliminary proxy statement on Schedule 14A filed with the SEC on August 2, 2013 (“Second Revised Preliminary Proxy”); and
(3) definitive proxy statement on Schedule 14A filed with the SEC on August 21, 2013 (“Definitive Proxy”).

The law firms of Robbins Geller Rudman and Dowd LLP, Kendall Law Group, LLP, The Briscoe Law Firm, PLLC, Powers Taylor LLP, Barrack, Rodos & Bacine, Saxena White, P.A., and Labaton Sucharow LLP represent you and the other Class Members. These lawyers are called Plaintiffs’ Counsel.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice which can be found and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

REMAIN A MEMBER OF THE CLASS This is the only way to get a payment. If you wish to obtain a payment as a Class Member, you will need to file a Proof of Claim and Release form (which is included with the Notice) postmarked no later than July 1, 2015.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION FILED WITH THE COURT AND POSTMARKED NO LATER THAN MAY 18, 2015 You may write to the Court if you do not like this Settlement, the proposed Plan of Allocation (as defined in the Notice), or the request for attorneys’ fees and expenses. You cannot object to the Settlement unless you are a Class Member and do not exclude yourself.
OPT OUT OF THE CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS POSTMARKED NO LATER THAN MAY 13, 2015 Get no payment. This is the only option that allows you to participate in another lawsuit against the Defendants for the legal claims in this case.
GO TO A HEARING ON JUNE 1, 2015, AT 3:30 P.M. AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED BY THE COURT NO LATER THAN MAY 18, 2015 You may ask to speak in Court about the fairness of the Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and expenses.
DO NOTHING Get no payment. Remain a Class Member. Give up your rights to pursue further litigation against the Released Parties about the Settled Claims.

DEADLINES

Deadline to Submit Proof of Claim: July 1, 2015
File Objection to the Settlement: May 18, 2015
Opt out of Class: May 13, 2015
Court Hearing on Fairness of Settlement: June 1, 2015 at 3:30 p.m.