WILMINGTON, Del.--(EON: Enhanced Online News)--Rigrodsky & Long, P.A.:
- Do you own shares of FairPoint Communications, Inc. (NASDAQ CM: FRP)?
- Did you purchase any of your shares prior to December 5, 2016?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of FairPoint Communications, Inc. (“FairPoint” or the “Company”) (NASDAQ CM: FRP) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Consolidated Communications Holdings, Inc. (“Consolidated Communications”) (NASDAQ GS: CNSL), in a transaction valued at approximately $1.5 billion.
Click here to learn more: http://rigrodskylong.com/investigations/fairpoint-communications-inc-frp.
Under the terms of the agreement, shareholders of FairPoint will receive 0.7300 shares of Consolidated Communications common stock for each share of FairPoint common stock. Based on Consolidated Communications’ closing stock price on December 2, 2016, FairPoint shareholders would have received compensation valued at approximately $20.72 per share.
The investigation concerns whether FairPoint’s board of directors failed to adequately shop the Company and obtain the best possible value for FairPoint shareholders before entering into an agreement with Consolidated Communications.
If you own the common stock of FairPoint and purchased your shares before December 5, 2016, 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 Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://rigrodskylong.com/investigations/fairpoint-communications-inc-frp.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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