Thieler Law Corp advises investors with losses exceeding $100,000 of the August 24, 2015 lead plaintiff deadline in a class action lawsuit filed against AirMedia Group Inc (NASDAQ: AMCN) (“AirMedia” or “the Company”). The suit is pending in the U. S. District Court for the Southern District of New York and investors, who purchased AirMedia securities between April 15, 2015 and June 15, 2015, have until August 24, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased AirMedia securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants misled investors into believing that a 5% portion of AirMedia Ltd, its advertising subsidiary, would be sold to Shenzhen Liantronics Co (“Liantronics”) at a total subsidiary valuation of $500 million.

On April 28, 2015 Seeking Alpha published a report that claimed that AirMedia was misleading investors regarding the sale of AirMedia Ltd and a sale would likely not be closed. In response, the Company confirmed to investors that it would sell a 5% stake in AirMedia, Ltd. to Liantronics at a total valuation of $500 million.

Then on June 15, 2015, AirMedia announced they would be entering into a definitive agreement to sell 75 percent of AirMedia Ltd for $344 million to Beijing Longde Wenchuang Fund Mgmt Co Ltd, a quick reversal from its earlier announcement regarding a sale of 5% of the subsidiary at a $500 million valuation.

Following the release of this news, NASDAQ: AMCN shares declined $1.29 per share, or nearly 20%, to close on June 15, 2015 at $5.97 per share.

If you were negatively impacted by your investment in AirMedia securities between April 15, 2015 and June 15, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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