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Shareholder Class Action Filed Against AirMedia Group Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired AirMedia Group Inc. (Nasdaq: AMCN) (“AirMedia”) American Depositary Receipts ("ADRs") between April 15, 2015 and June 15, 2015, inclusive (the “Class Period”).

AirMedia Group Inc. investors may receive additional information about the case by clicking the link "Join this Class Action" above.  

AirMedia operates out-of-home advertising platforms primarily in the People's Republic of China, including a network of digital TV screens on airplanes; traditional media in airports, such as light boxes, billboards, and painted advertisements; and gas station media displays, as well as other outdoor media displays outside of the air-travel advertising sector.

The complaint alleges that during the Class Period, defendants made false and misleading statements regarding the purported sale of a 5% interest in AirMedia's advertising subsidiary, AirMedia Group Co., Ltd. ("AM Advertising"), to Shenzhen Liantronics Co. Ltd. ("Liantronics"), and the valuation of the subsidiary negotiated in the deal.  AirMedia's press release announcing the sale stated that the deal "reflected the total valuation of AM Advertising of RMB3 billion," or $500 million.  The complaint alleges that defendants made additional statements during the Class Period claiming that RMB3 billion/$500 million was a solid valuation of the AM Advertising subsidiary.  As a result of defendants' false and misleading statements during the Class Period, AirMedia ADRs traded at artificially inflated prices, reaching a high price of $7.70 per ADR in intraday trading on June 15, 2015.

Later on June 15, 2015, the Company issued a press release announcing that it had entered into a definitive agreement to sell a 75% equity interest in AM Advertising to Beijing Longde Wenchuang Fund Management Co., Ltd. ("Longde") for RMB2.1 billion/$344.4 million, significantly less than the purported value the Company had claimed the subsidiary was worth during the Class Period. On this news, the price of AirMedia ADRs fell more than 50% over the next two days.

If you are a member of the class described above, you may no later than August 24, 2015, move the Court to serve as lead plaintiff of the class, if you so choose.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP.

Contact

Kessler Topaz Meltzer & Check, LLP
James Maro, Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706

Please list your purchase and sale transaction(s) in the AirMedia Group Inc. security that is subject of this action during the Class Period (between April 15, 2015 and June 15, 2015):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of AirMedia Group Inc. prior to the class period?
Are you a current or former employee of AirMedia Group Inc.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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