Arkansas Media, LLC, an Arkansas Limited Liability Company Equity Broadcasting Corporation, an Arkansas Corporation…

Summary

The court affirmed certification of a class of EBC Class A shareholders arising from alleged inadequate disclosure and breach of fiduciary duty in connection with a proposed merger. It held that the representatives’ claims were typical, common liability issues predominated despite possible individualized defenses or damages issues, and a class action was superior. The court also rejected the argument that the alleged worthlessness of the proposed remedy defeated superiority because that issue was premature and unsupported at the certification stage.