NEW YORK, March 20, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of AboveNet Inc. ("AboveNet" or the "Company") (NYSE: ABVT) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Zayo Group LLC. Under the terms of the agreement, AboveNet shareholders will receive $84 per share of AboveNet stock they own. The transaction has a total approximate value of $2.2 billion.
Click here to learn how to join the action: http://www.zlk.com/abovenet-abvt, or call: 877-363-5972. There is no cost or obligation to you.
The investigation concerns whether the AboveNet Board of Directors breached their fiduciary duties to AboveNet stockholders by failing to adequately shop the Company before entering into this transaction and whether Zayo Group LLC is underpaying for AboveNet shares, thus unlawfully harming AboveNet stockholders. In particular, at least one analyst set a price target of $86 per AboveNet share.
If you own common stock in AboveNet and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, http://www.zlk.com.
Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP