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AboveNet, Inc. Message Board

  • janerockets janerockets Mar 23, 2012 5:05 PM Flag

    LAWSUIT FILED - BLOOMBERG STORY

     

    AboveNet Sued by Shareholder Over Buyout

    By Sophia Pearson - Mar 21, 2012 2:53 PM ET
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    AboveNet, was sued by a shareholder claiming the offer for the company is “inadequate.”

    The bid undervalues the company given its improving sales trends and a strategy, the shareholder said in the complaint filed today in Delaware Chancery Court. The plaintiff is seeking to represent all shareholders of and obtain a court order barring the transaction.

    “The proposed transaction is wrongful, unfair and harmful to AboveNet public shareholders,” as was said in the complaint.

    For more information, contact law firm at 877-772-3975 or contact@tripplevy.com

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