Law Office of Brodsky & Smith, LLC Announces Investigation of XETA Technologies, Inc.
2011年2月12日 - 1:30PM
ビジネスワイヤ(英語)
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
XETA Technologies, Inc. (“XETA” or the “Company”) (Nasdaq - XETA)
relating to the proposed acquisition by PAETEC Holding Corporation,
Inc. (“PAETEC”) in a transaction valued at approximately $61
million.
Under the terms of the offer, XETA shareholders would receive
$5.50 in cash for each share of XETA common stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of XETA by
not acting in XETA shareholders' best interests by agreeing to
various deal protections. The transaction appears to be unfair, in
part, because XETA must give PAETC at least five business days’
prior written notice of its intention to accept a superior proposal
and allow PAETC the opportunity to revise PAETC proposal making it
less likely that a higher offer for XETA will be received.
If you own shares of XETA and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/262-xeta-xeta-technologies-inc.html, or by
calling toll free 877-LEGAL-90.
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