Sarraf Gentile LLP Announces Filing of Lawsuit in Connection With the Proposed Acquisition of FiberNet Telecom Group, Inc. by Za
June 25 2009 - 3:32PM
Marketwired
Sarraf Gentile LLP, a national law firm that represents investors
and shareholders, announces the filing of a lawsuit in connection
with the proposed acquisition of FiberNet Telecom Group, Inc.
(NASDAQ: FTGX) by Zayo Group, LLC. The case was filed on June 19,
2009 in the Court of Chancery of the State of Delaware and names as
defendants FiberNet and its directors, as well as Zayo and its
wholly owned subsidiary Zayo Merger Sub, Inc.
The action was brought on behalf of a putative class of
stockholders of FiberNet and, among other things, seeks to enjoin
the acquisition of FiberNet by Zayo. Plaintiff alleges that the
decision by the directors of FiberNet to agree to the acquisition
constituted breaches of their fiduciary duties because they did not
engage in a fair process to ensure the highest possible purchase
price for FiberNet shareholders.
No class has yet been certified in the action. Until a class is
certified, you are not represented by counsel unless you retain
one. Sarraf Gentile LLP has not filed a lawsuit against the
defendants.
If you are a FiberNet shareholder and want to discuss your legal
rights, at no cost and without obligation, please contact Joseph
Gentile at Sarraf Gentile LLP (telephone: 212-868-3610; e-mail:
joseph@sarrafgentile.com).
Sarraf Gentile LLP has extensive experience litigating
shareholder class actions across the United States and has
recovered millions of dollars on behalf of injured
shareholders.
ATTORNEY ADVERTISING. Prior results do not guarantee a similar
outcome.
Contact: Joseph Gentile SARRAF GENTILE LLP 116 John Street,
Suite 2310 New York, NY 10038 T 212.868.3610 F 212.918.7967
joseph@sarrafgentile.com www.sarrafgentile.com
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