Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of XETA Technologies, Inc., in Connection wi...
15 Février 2011 - 1:30AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
XETA Technologies, Inc. (“XETA” or the “Company”) (NASDAQ:XETA)
related to the Company’s agreement to be acquired by PAETEC Holding
Corp. (“PAETEC”). The proposed transaction is valued at
approximately $61 million.
Under the terms of the definitive merger agreement entered into
by the parties, XETA stockholders would receive $5.50 in cash for
each share they own of the Company’s common stock. If the
transaction is completed, XETA will become an indirect, wholly
owned subsidiary of PAETEC. The transaction is expected to close
within three months of February 9, 2011. The investigation concerns
possible breaches of fiduciary duty and other violations of law
related to approval of the proposed transaction by XETA’s board of
directors.
If you are a shareholder of XETA, 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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