Law Office of Brodsky & Smith, LLC Announces Investigation of AboveNet, Inc.
22 Marzo 2012 - 12:08AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
AboveNet, Inc. (“AboveNet” or the “Company”) (NYSE: ABVT) relating
to the proposed acquisition Zayo Group, LLC (“Zayo”).
Under the terms of the transaction, AboveNet shareholders would
receive only $84.00 in cash for each share of AboveNet stock they
own. The investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
AboveNet for not acting in the Company’s shareholders' best
interests in connection with the sale process to Zayo. The
transaction may undervalue AboveNet as an analyst has set a price
target on AboveNet stock at $86.00 per share. In addition, AboveNet
reported $72.7 million in net income on revenue of $472.5 million
last year.
If you own shares of AboveNet stock and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/398-abvt-abovenet-inc.html, or by calling
toll free 877-LEGAL-90.
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