Science & Technology
Science and Technology
Science and Technology
Wed, February 9, 2011
The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of XETA T
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of XETA Technologies, Inc. (aXETAa or the aCompanya) (Nasdaq: XETA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to PAETEC Holding Corporation (aPAETECa) (Nasdaq: PAET). Under the terms of the transaction, XETA shareholders will receive $5.50 per share in cash, for a total transaction value of approximately $61 million.
Click here to learn how to join the action: [ http://www.zlk.com/xeta-technologies-xeta.html ], or call: 877-363-5972.
The investigation concerns whether the XETA Board of Directors breached their fiduciary duties to XETA stockholders by failing to adequately shop the Company before entering into this transaction and whether PAETEC is underpaying for XETA shares, thus unlawfully harming XETA stockholders. For fiscal year 2010, XETA reported revenue of $85.7 million and expects to generate over $100 million in revenue for fiscal year 2011.
If you own common stock in XETA and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit [ http://www.zlk.com/xeta-technologies-xeta.html ].
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
