Mediacom Communications Corp. Shareholder Investigation by Briscoe Law Firm Concerning the Management Acquisition by Rocco B....
15 Novembro 2010 - 4:19PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Mediacom Communications Corp. (“Mediacom” or “MCCC”) (NASDAQ:
MCCC) related to the proposed management buyout and acquisition of
Mediacom by its founder and Chief Executive Officer, Rocco B.
Commisso (“Commisso”).
According to the definitive acquisition agreement, which was
announced on November 15, 2010, Mediacom shareholders will receive
a cash payment of only $8.75 for each share of Mediacom/MCCC common
stock they hold. Commisso reportedly has “87 percent voting power
and owns about 40 percent of the total shares outstanding,” in
MCCC.
Although the proposed acquisition price represents an
approximate 28% premium over Mediacom’s stock closing price on
Friday, based on the company’s historical share prices and the
nature of the buyout, the proposed transaction may undervalue
Mediacom/MCCC shares and not be fair to Mediacom shareholders. The
investigation relates to possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Mediacom
for approving this transaction and whether Mediacom’s Board of
Directors acted in the shareholders’ best interests.
If you currently own shares of Mediacom/MCCC and would like
additional information regarding this investigation, or if you have
information regarding the allegations involving this transaction,
please contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie
Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or
via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or
fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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