The Law Firm of Weiss & Lurie Investigates SureWest Communications
February 07 2012 - 10:50AM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of SureWest
Communications (Nasdaq:SURW) arising from its agreement for the
Company to be acquired by Consolidated Communications Holdings,
Inc. (Nasdaq:CNSL).
Under the acquisition agreement, shareholders may elect to
exchange each share of SureWest for either $23.00 in cash or the
equivalent value in shares of Consolidated Communications stock
based on the average trading price for the 20-day period ending two
days before the closing of the acquisition. Overall stock and cash
elections are subject to proration such that 50 percent of the
SureWest shares will be exchanged for cash and 50 percent for
stock.
Weiss & Lurie is investigating whether SureWest’s Board
acted in the best interests of SureWest shareholders in approving
this deal. In approving the deal, the Board may have breached its
duties to shareholders by failing to properly maximize the value of
SureWest’s shares, such as by providing a level playing field to
competing bidders or by considering alternative transactions.
If you own SureWest shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Julia J. Sun either by email at
info@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie 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
institutions and individuals and obtained important corporate
governance in 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
issuing materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at info@weisslurie.com or fill out the form on our
website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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