SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

August 08, 2011 17:57 ET

The Law Firm of Levi & Korsinsky, LLP Notifies Shareholders of Claims of Breaches of Fiduciary Duty by the Board of PAETEC Holding Corp. in Connection With the Sale of Company to Windstream Corp.

NEW YORK, NY--(Marketwire - Aug 8, 2011) - Levi & Korsinsky notifies shareholders of PAETEC Holding Corp. ("PAETEC" or the "Company") (NASDAQ: PAET) of claims of breaches of fiduciary duty and other violations of state law against the Board of Directors of the Company in connection with the sale of the Company to Windstream Corp. (NASDAQ: WIN). Under the terms of the transaction, PAETEC shareholders will receive 0.460 of a share of Windstream Corp. stock for each share of PAETEC stock they own, representing a value of approximately $5.62 per PAETEC share. The transaction has a total approximate value of $2.3 billion. A complaint was filed in Delaware state court.

Click here to learn how to join the action: http://zlk.9nl.com/PAETEC, or call: 877-363-5972.

The claims concern whether the PAETEC Board of Directors breached their fiduciary duties to PAETEC stockholders by failing to adequately shop the Company before entering into this transaction and whether Windstream Corp. is underpaying for PAETEC shares, thus unlawfully harming PAETEC stockholders. In particular, at least one analyst set a price target of $7.00 per share of PAETEC stock.

If you own common stock in PAETEC and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com/paetec-holding-paet.html.

Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com