Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of XETA Technologies, Inc., in Connection wi...

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of XETA Technologies, Inc. (“XETA” or the “Company”) (NASDAQ:XETA) related to the Company’s agreement to be acquired by PAETEC Holding Corp. (“PAETEC”). The proposed transaction is valued at approximately $61 million.

Under the terms of the definitive merger agreement entered into by the parties, XETA stockholders would receive $5.50 in cash for each share they own of the Company’s common stock. If the transaction is completed, XETA will become an indirect, wholly owned subsidiary of PAETEC. The transaction is expected to close within three months of February 9, 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by XETA’s board of directors.

If you are a shareholder of XETA, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Xeta Technologies, Inc. (MM) (NASDAQ:XETA)
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