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05.12.2016 16:25
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PR Newswire
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FairPoint (FRP) Alert: Johnson & Weaver, LLP Launches an Investigation into the Fairness of Price and Process in Proposed Sale of FairPoint Communications, Inc.
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PR Newswire
SAN DIEGO, Dec. 5, 2016
SAN DIEGO, Dec. 5, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of FairPoint Communications, Inc. (NASDAQ: FRP) breached their fiduciary duties in connection with the proposed sale of the Company to Consolidated Communications Holdings, Inc. FairPoint provides communications services to business, wholesale and residential customers in the United States.
On December 5, 2016, FairPoint announced it had signed a definitive merger agreement with Consolidated Communications. Under the terms of the agreement, FairPoint shareholders will receive a fixed exchange ratio of 0.7300 shares of Consolidated Communications common stock for each share of FairPoint common stock.
The investigation concerns whether the FairPoint board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for FairPoint shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you are a shareholder of FairPoint and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fairpoint-frp-alert-johnson--weaver-llp-launches-an-investigation-into-the-fairness-of-price-and-process-in-proposed-sale-of-fairpoint-communications-inc-300372785.html
SOURCE Johnson & Weaver, LLP
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