Contact Information: Contact: Joseph Gentile SARRAF GENTILE LLP 116 John Street, Suite 2310 New York, NY 10038 T 212.868.3610 F 212.918.7967 joseph@sarrafgentile.com www.sarrafgentile.com
Sarraf Gentile LLP Announces Filing of Lawsuit in Connection With the Proposed Acquisition of FiberNet Telecom Group, Inc. by Zayo Group, LLC
| Source: Sarraf Gentile LLP
NEW YORK, NY--(Marketwire - June 25, 2009) - Sarraf Gentile LLP, a national law firm that
represents investors and shareholders, announces the filing of a lawsuit in
connection with the proposed acquisition of FiberNet Telecom Group, Inc.
(NASDAQ : FTGX ) by Zayo Group, LLC. The case was filed on June 19, 2009 in
the Court of Chancery of the State of Delaware and names as defendants
FiberNet and its directors, as well as Zayo and its wholly owned subsidiary
Zayo Merger Sub, Inc.
The action was brought on behalf of a putative class of stockholders of
FiberNet and, among other things, seeks to enjoin the acquisition of
FiberNet by Zayo. Plaintiff alleges that the decision by the directors of
FiberNet to agree to the acquisition constituted breaches of their
fiduciary duties because they did not engage in a fair process to ensure
the highest possible purchase price for FiberNet shareholders.
No class has yet been certified in the action. Until a class is certified,
you are not represented by counsel unless you retain one. Sarraf Gentile
LLP has not filed a lawsuit against the defendants.
If you are a FiberNet shareholder and want to discuss your legal rights, at
no cost and without obligation, please contact Joseph Gentile at Sarraf
Gentile LLP (telephone: 212-868-3610; e-mail: joseph@sarrafgentile.com).
Sarraf Gentile LLP has extensive experience litigating shareholder class
actions across the United States and has recovered millions of dollars on
behalf of injured shareholders.
ATTORNEY ADVERTISING. Prior results do not guarantee a similar outcome.