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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of ITC^DeltaCom, Inc. in Connection with the P

^{Published on 2010-10-07 10:16:00 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of ITC^DeltaCom, Inc. (aDeltaComa or the aCompanya) (OTCBB:ITCD) related to the Companya™s agreement to be acquired by EarthLink, Inc. (aEarthLinka). The proposed transaction is valued at approximately $516 million, including assumed debt.

Under the terms of the definitive merger agreement entered into by the parties, DeltaCom shareholders will receive $3.00 in cash for each share of the Companya™s common stock they own. If the transaction is completed, DeltaCom will operate as a wholly owned subsidiary of EarthLink. The transaction is expected to close in the fourth quarter of 2010 or the first quarter of 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by DeltaComa™s board of directors.

If you are a shareholder of DeltaCom, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].