Finkelstein Thompson LLP Announces Investigation of Arbinet Corp.

Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Arbinet Corp. (“Arbinet” or the “Company”) (Nasdaq: ARBX) concerning the sale of the Company to Primus Telecommunications Group Inc. (“Primus”) (OTCBB:PMUG.OB) through a share exchange valued at roughly $28 million. If the transaction is completed, Arbinet shareholders would own approximately 23% of the combined company. Based on the capitalization of Arbinet and Primus on the date of the merger agreement, the deal has an implied value of $5.03 per share. The transaction is expected to be completed in the first quarter of 2011.

The investigation is focused on the potential unfairness of the consideration to Arbinet shareholders, the process by which the Board of Directors considered the transaction, and potential conflicts of interests among Arbinet Board members. The consideration offered values Arbinet at a considerable discount to its current share price and book value, and is in the form of Primus stock, which is traded over the counter. Indeed, Arbinet’s share price closed at $6.59 prior to the announcement of the transaction, over $1.50 more per share than the implied value of the offer of the share exchange.

If you are interested in discussing your rights as an Arbinet shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.

Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.

To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com. Attorney advertising. Prior results do not guarantee similar outcomes.

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