Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of RCN Corporation
08 Marzo 2010 - 8:11PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
RCN Corporation (“RCN” or the “Company”) (Nasdaq:RCNI) related to
the Company’s agreement to be acquired by ABRY Partners, LLC. The
cash transaction is valued at approximately $1.2 billion, including
assumed debt.
Under the terms of the Agreement and Plan of Merger entered into
by the parties, each share of RCN common stock issued and
outstanding immediately prior to the effective time of the merger
will be cancelled and converted into the right to receive $15.00 in
cash. Completion of the transaction is expected to occur in the
second half of 2010. The investigation concerns possible breaches
of fiduciary duty and other violations of law related to approval
of the transaction by the RCN board of directors.
If you own shares of RCN Corporation, 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.
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