WAYNE, Pa., April 23, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP is investigating potential claims against the board of directors of Cbeyond, Inc. ("Cbeyond" or the "Company") (NASDAQ: CBEY) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to Birch Communications, Inc. in a transaction valued at approximately $323 million.
If you own shares of Cbeyond and would like to learn more about this class action or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/cbey. You may also email Mr. Maniskas at [email protected].
Under the terms of the agreement, public shareholders of Cbeyond will receive between $9.97 and $10.00 per share in cash for each share of Cbeyond they own. The exact amount will be determined based on stock transactions relating to previously granted stock awards to employees that occur after execution of the definitive agreement.
Our investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Cbeyond for not acting in the Company's shareholders' best interests in connection with the sale process.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.