Science & Technology
Tue, March 20, 2012
BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the Board of Directors of AboveNet, Inc. (aAboveNeta or the aCompanya) (NYSE: ABVT) related to the proposed acquisition of the Company by Zayo Group, LLC. The transaction is valued at approximately $2.2 billion or $84.00 per share.
The investigation concerns whether the Board of Directors of AboveNet breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $53.55 on November 23, 2011 to $74.25 on March 16, 2012. Further, at least one analyst has set a target price for the Companyas stock at $86.00.
If you are a shareholder of AboveNet, 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 ].