Kendall Law Group, led by former federal judge Joe Kendall, is investigating Mediacom Communications Corp. (NASDAQ: MCCC) for shareholders in connection with the proposed acquisition by Mediacom founder and Chief Executive Officer Rocco B. Commisso. The national securities firm’s investigation seeks to determine whether Mediacom and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Mediacom shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at email@example.com.
On November 15, 2010, the companies announced the definitive merger agreement under which Mediacom would be taken private by Commisso. Under the terms of the agreement, Mediacom stockholders will receive $8.75 in cash for each share of Mediacom/MCCC common stock, which represents a 28 percent premium over Friday's closing price. According to a June regulatory filing, Commisso has “87 percent voting power and owns about 40 percent of the total shares outstanding.” Due to these factors, the firm believes the transaction may significantly undervalue the company.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.