XETA Xeta Technologies, Inc. (MM)

The law firm of Federman & Sherwood has initiated an investigation into XETA Technologies Inc. (NASDAQ: XETA) (“XETA”) with respect to possible breaches of fiduciary duty by the Company’s officers and directors, as well as violations of state law in connection with its attempted sale of the Company to PAETEC Holding Corp. (NASDAQ: PAET) (“PAETEC”).

Under the proposed terms of the sale, XETA would become a wholly owned subsidiary of PAETEC for a purchase price of $61 million, and XETA shareholders would receive $5.50 per share of XETA stock. Federman & Sherwood is investigating whether the buyout makes all necessary disclosures to XETA shareholders, whether it offers adequate value to the Company’s shareholders, and whether the board of XETA could have received a higher valuation for its shareholders by seeking other purchasers. XETA is expected to generate over 100 million in revenue for fiscal year 2011. Federman & Sherwood therefore believes that PAETEC is underpaying for XETA shares, thereby unlawfully harming XETA shareholders.

If you own common stock in XETA Technologies Inc. and wish to discuss this action, have any information to assist our investigation, or have any questions or concerns regarding this notice or preservation of your rights, please contact our firm. Federman & Sherwood has extensive experience representing investors in securities, derivative and merger-related shareholder class actions.

Xeta Technologies, Inc. (MM) (NASDAQ:XETA)
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Xeta Technologies, Inc. (MM) (NASDAQ:XETA)
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