NEW YORK, April 23, 2014 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cbeyond, Inc. ("Cbeyond" or the "Company") (Nasdaq: CBEY) for potential breaches of fiduciary duties in connection with the sale of the Company to Birch Communications Inc. for approximately $323 million. The Company's stockholders will receive between $9.97 and $10 for each share of Cbeyond common stock they own.
The investigation focuses on whether Cbeyond's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Cbeyond's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in Cbeyond and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/CBEY or contact Juan E. Monteverde, Esq. either via e-mail at [email protected] or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP 369 Lexington Avenue, 10th Floor New York, NY 10017 Attn: Juan E. Monteverde, Esq. [email protected] Toll Free: (877) 247-4292 Phone: (212) 983-9330
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