NEW YORK, July 17, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Hawaiian Telcom Holdco, Inc. ("HCOM" or the "Company") (NASDAQ: HCOM) in connection with the proposed acquisition of the Company by Cincinnati Bell, Inc. ("CBB") (NYSE: CBB). Under the terms of the agreement, the Company's shareholders can elect to receive $30.75 in cash, or 1.6305 shares of CBB common stock, or a combination of 0.6522 of a CBB common stock and $18.45 in cash.
WeissLaw is investigating whether HCOM's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $35.00 per share. Additionally, the Company recently announced promising financial results for the first quarter of 2017. It reported a 7.8% year-over-year increase in normalized business strategic revenue, and a noteworthy 12.4% growth in video services revenue.
Given these facts, WeissLaw is investigating whether HCOM's Board acted in the best interests of HCOM's public shareholders to maximize shareholder value prior to entering into the agreement. If you own HCOM shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or visit our website, http://www.weisslawllp.com/hawaiian-telcom-holdco-inc/
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SOURCE WeissLaw LLP