The Law Office of Abe Shainberg is investigating the Board of Directors of Arbinet Corporation (NasdaqGM: ARBX) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Primus Telecommunications Group, Inc. (OTCBB: PMUG). Under the terms of the transaction, Arbinet common shareholders will receive shares of Primus common stock in exchange for the Arbinet common stock they own for a total transaction value of approximately $28 million. Based on the companies' current capitalization, Arbinet shareholders will be expected to own approximately 23% of the combined company, and Primus shareholders will be expected to own approximately 77% of the combined company upon the closing of the transaction.

The investigation concerns whether the Arbinet Board of Directors breached their fiduciary duties to Arbinet stockholders by failing to adequately shop the Company before entering into this transaction and whether Primus is underpaying for Arbinet shares. For the most recent quarter, the Company had a book value of approximately $6.06 per share which equates to a total book of $33.21 million based on the total number of shares outstanding.

If you own common stock in Arbinet and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at as@ashainberglaw.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/arbinet-arbx.html.

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.

Arbinet (NASDAQ:ARBX)
Gráfica de Acción Histórica
De Abr 2024 a May 2024 Haga Click aquí para más Gráficas Arbinet.
Arbinet (NASDAQ:ARBX)
Gráfica de Acción Histórica
De May 2023 a May 2024 Haga Click aquí para más Gráficas Arbinet.