Science & Technology
Science and Technology
Science and Technology
Thu, January 27, 2011
South Florida Firm, Law Office of Jonathan M. Stein, P.L., Investigates Possible Breach of Fiduciary Duty by the Board of Terre
BOCA RATON, Fla.--([ BUSINESS WIRE ])--The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of Terremark Worldwide, Inc. ("Terremark" or the "Company") (Nasdaq: TMRK) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to Verizon Communications Inc. Under the terms of the proposed transaction, Terremark shareholders are to receive $19.00 in cash for each share they own, for a total equity value of about $1.4 billion.
The investigation involves whether the Board of Directors of Terremark breached their fiduciary duties to Terremark stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether Terremark has disclosed all material information to shareholders about the proposed transaction. Specifically, over the past six months, Terremark shares have increased over 107% from June 7, 2010 to January 27, 2011.
If you own stock in Terremark and wish to obtain additional information about your rights, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at [ jstein@jonathansteinlaw.com ] or by telephone at (561) 961-2244.
The Law Office of Jonathan M. Stein, P.L.represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website, [ www.jonathansteinlaw.com ], and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.
