Glancy Binkow & Goldberg LLP Announces Continued Investigation of AboveNet, Inc.
22 Marzo 2012 - 7:27PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims against the Board of Directors of
AboveNet, Inc. (“AboveNet” or the “Company”) (NYSE: ABVT) related
to the proposed acquisition of the Company by Zayo Group, LLC. The
transaction is valued at approximately $2.2 billion or $84.00 per
share.
The investigation concerns whether the Board of Directors of
AboveNet breached their fiduciary duties to stockholders by failing
to adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction. The
Company has seen substantial recent growth. Its share price has
skyrocketed from $53.55 on November 23, 2011 to $74.25 on March 16,
2012. Further, at least one analyst has set a target price for the
Company’s stock at $86.00.
If you are a shareholder of AboveNet, if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Louis Boyarsky, Esquire, Glancy Binkow
& Goldberg LLP, 1925 Century Park East, Suite 2100, Los
Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at
(888) 773-9224 or by email to shareholders@glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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