Levetown & Jenkins, LLP Announces an Investigation of Mediacom CEO’s Offer to Acquire Mediacom Communications Corporation
16 Novembro 2010 - 1:49AM
Business Wire
Levetown & Jenkins, LLP is conducting an investigation into
alleged breaches of fiduciary duties by Mediacom Communications
Corporation (“Mediacom”) (NASDAQ: MCCC) and its Board of Directors
in conjunction with the proposed buyout by Mediacom Chairman and
CEO Rocco B. Commisso (“Commisso”) and a private entity formed by
Commisso. Commisso is seeking to acquire all of the outstanding
shares of Common Stock of Mediacom that he does not currently own
for $8.75 per share in cash in a going private transaction, subject
to certain conditions.
The transaction, expected to close in the first half of 2011, is
conditioned on a "majority of the minority" voting provision, which
requires approval by holders of a majority of Mediacom's
outstanding Class A shares not held by Mr. Commisso, his affiliates
and immediate family, or Mediacom's directors and executive
officers. The transaction is also subject to closing conditions,
the receipt of sufficient funds to pay the merger consideration and
transaction costs pursuant to existing credit facilities of
subsidiaries of Mediacom.
The firm’s investigation concerns whether the proposed
acquisition properly values Mediacom. Specifically, the
investigation seeks to determine whether the transaction
undervalues the company to the detriment of its shareholders and,
if so, the extent to which the company is undervalued in the
proposed transaction.
Levetown & Jenkins, LLP is a national law firm comprised of
former federal and state prosecutors with extensive experience in
the investigation and prosecution of shareholder fraud. The firm
specializes in the representation of investors in shareholder and
securities fraud class actions. If you currently own shares of
Mediacom and wish to obtain additional information about your
rights as a shareholder, please contact Michael T. Harrison, Esq.
at (713) 392-7465 or mharrison@levjen.com. For more information
about the firm, please visit www.levjen.com.
Attorney Advertising. (C) 2010 Levetown & Jenkins, LLP. The
law firm responsible for this advertisement is Levetown &
Jenkins, LLP (www.levjen.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter. We are
happy to discuss your particular case.
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