Berman Tabacco Announces Investigation of Consolidated Communications Holdings, Inc. (CNSL) for Potential Breaches of Fiduciary Duty
November 09 2023 - 9:00AM
Business Wire
Berman Tabacco, a national law firm representing investors, is
investigating Consolidated Communications Holdings, Inc., a
Delaware corporation, (“Consolidated Communications” or the
“Company”) (NASDAQ: CNSL) in connection with a take-private
acquisition announced by the Company on October 16, 2023.
About the Investigation
On October 16, 2023, Consolidated Communications announced that,
on October 15, 2023, the Company entered into an agreement to be
acquired in a take-private transaction by Condor Holdings LLC, a
Delaware limited liability company affiliated with certain funds
managed by affiliates of Searchlight Capital Partners, L.P.
(“Searchlight”) and other investors for $4.70 per share. This
all-cash transaction values the Company’s implied enterprise value
at approximately $3.1 billion. Searchlight is Consolidated
Communications’ largest shareholder and two of its partners serve
as members on the Company’s Board of Directors.
Berman Tabacco is investigating the relationship between
Searchlight and Consolidated Communications to ensure that the
board of Consolidated Communications met its fiduciary obligations
in negotiating and agreeing to the transaction as well as whether
all material facts about the acquisition have been adequately
disclosed.
Contact
If you are a stockholder of Consolidated Communications and
would like to learn more information about Berman Tabacco’s
investigation or have information concerning this investigation,
please contact us here: Contact | Berman Tabacco.
About Berman Tabacco
Since 1982, our firm has prosecuted hundreds of securities and
antitrust complex cases. The firm and its attorneys have been
recognized for their work on behalf of plaintiffs, including by
Chambers USA, Benchmark Litigation, which has ranked the firm as
Highly Recommended and a Top Ten Plaintiffs, The Legal 500, U.S.
News & World Report-Best Lawyers, The Daily Journal, Lawdragon,
Who's Who Legal, and Super Lawyers.
The firm has offices in San Francisco, California and Boston,
Massachusetts.
This notice may constitute attorney advertising.
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version on businesswire.com: https://www.businesswire.com/news/home/20231109320733/en/
Berman Tabacco Jeffrey V. Rocha, Esq. 425 California Street,
Suite 2300 San Francisco, CA 94104 Email: law@bermantabacco.com
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