Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by members of the Board of Directors of Arbinet Corporation (Nasdaq: ARBX) arising from the proposed sale of Arbinet to Primus Telecommunications Group, Inc. (OTCBB: PMUG).

The value of the transaction is approximately $28 million. Under the terms of the transaction, Arbinet shareholders will receive Primus shares equal to a set exchange ratio. Based on the capitalization of Arbinet and Primus on November 10, 2010, Arbinet shareholders would receive approximately 0.5259 Primus shares for each Arbinet share and be are expected to own approximately 23% of the combined company. The proposed transaction appears to value Arbinet stock at approximately $5.03 per share despite the fact that Arbinet’s stock traded substantially above that price prior to the announcement of the sale.

Weiss & Lurie is investigating whether Arbinet’s Board acted in the best interests of shareholders in approving the proposed transaction and whether Arbinet’s Board properly sought to maximize shareholder value.

If you own common stock in Arbinet and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin, Esq. either by email at infony@weisslurie.com or by telephone at (888) 593-4771.

Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at infony@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.

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