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Fiduciary Duty Breach by Board of Centennial Communications Under Investigation |
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Written by Globe NewsWire
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Monday, 10 November 2008 |
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New York, New York - Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the board of directors of Centennial Communications Corp ("Centennial" or the "Company") (Nasdaq:CYCL) arising out of their attempt to sell the Company to AT&T Inc.
Under the terms of the agreement, Centennial shareholders are to receive $8.50 for each share they own for a total transaction value of approximately $944 million. The transaction price is unfair given that the Company's shares closed at $8.70 as recently as June 5, 2008 and at least one analyst has an $11 per share price target for Centennial stock.
If you own common stock in Centennial and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/cycl.html
L&K has experience in prosecuting investor securities litigation and an extensive practice in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
CONTACT: Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
Juan E. Monteverde, Esq.
(212) 363-7500
Fax: (212) 363-7171
www.zlk.com
39 Broadway, Suite 1601
New York, NY 10006
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