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The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of PAETEC Holding Corp.


//science-technology.news-articles.net/content/2 .. nounce-investigation-of-paetec-holding-corp.html
Published in Science and Technology on by Market Wire   Print publication without navigation


DALLAS--([ BUSINESS WIRE ])--The acquisition of PAETEC Holding Corp. (aPAETEC Holdinga or aPAETa) (NASDAQ: PAET) by Windstream Corp. (NASDAQ: WIN) is being investigated on behalf of shareholders by former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ]. PAETEC Holding recently entered into an acquisition agreement that will provide PAETEC Holding shareholders 0.460 shares of Windstream stock for each share of PAETEC Holding/PAET owned, representing a value of only $5.62 to shareholders.

"Based on these and other factors, we do not believe that the acquisition price is fair, and our anticipated lawsuit will seek to obtain the highest share price for all shareholders"

If you are an affected shareholder, and you want to learn more about the investigation or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The definitive acquisition agreement involves a stock-for-stock transaction valued at approximately $2.3 billion, including assumption of debt.

aWe are investigating the fairness of the proposed transaction to PAETEC Holding shareholders, whether the shareholders are being underpaid for their stock, and whether PAETEC Holdinga™s Board of Directors acted in the shareholdersa™ best interests,a said shareholder rights attorney Willie Briscoe. In particular, based on Windstream Corp.a™s closing price the day prior to the announcement, the total value to PAETEC Holding shareholders is only approximately $5.62 per share. However, PAETEC Holding/PAET shares closed at $4.78 per share and traded at nearly $5.00 per share in the two weeks prior to the acquisition announcement. Further, according to Thompson/First Call, at least one analyst has set a target price of $7.00 for PAETEC Holding shares. aBased on these and other factors, we do not believe that the acquisition price is fair, and our anticipated lawsuit will seek to obtain the highest share price for all shareholders,a said Willie Briscoe.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.

Powers Taylor, LLP is a boutique litigation firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.


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