Tripp Levy PLLC announces an investigation into the proposed acquisition of Protection One (Nasdaq: PONE). On April 26, 2010, GTCR, a private equity firm, announced that it is proposing to acquire all of the outstanding shares of common stock of PONE, through a tender offer, for $15.50 per share in cash.

PONE’s two largest shareholders, Quadrangle Capital Partners and Monarch Alternative Capital LP, who collectively own approx. 70% of PONE’s outstanding shares, and, in effect, control the company, have agreed to tender their shares into the tender offer.

The investigation concerns, among other things, whether the consideration to be paid to PONE shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of PONE. The investigation further concerns whether the directors of PONE may have breached their fiduciary duties by not acting in PONE shareholders' best interests in connection with the sale process of PONE.

If you own PONE common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact

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