WASHINGTON, June 22, 2009 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP is investigating potential shareholder claims arising from the proposed acquisition of FiberNet Telecom Group, Inc. ("FiberNet" or the "Company") (Nasdaq:FTGX) by Zayo Group, LLC ("Zayo Group"). Under the terms of the merger agreement, FiberNet shareholders will receive $11.45 per share, subject to potential adjustment under the merger agreement.
The investigation is focused on the potential unfairness of the merger price and of the process by which the FiberNet Board of Directors approved the agreement. Specifically, the investigation is examining whether or not the Board fulfilled its fiduciary duties in failing to accept and recommend approval of a superior offer from another bidder, RCN Corp., which has indicated its willingness to pay as much as $12.50 per share for FiberNet.
If you are interested in discussing your rights as a FiberNet shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in connection with securities and other finance-related litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers. To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com.