Levetown & Jenkins, LLP Announces An Investigation Of Mediacom CEO’s Offer To Acquire Mediacom Communications Corporation
Levetown & Jenkins, LLP is conducting an investigation into alleged breaches of fiduciary duties by Mediacom Communications Corporation (“Mediacom”) (NASDAQ: MCCC) and its Board of Directors in conjunction with the proposed buyout by Mediacom Chairman and CEO Rocco B. Commisso (“Commisso”) and a private entity formed by Commisso. Commisso is seeking to acquire all of the outstanding shares of Common Stock of Mediacom that he does not currently own for $8.75 per share in cash in a going private transaction, subject to certain conditions.
The transaction, expected to close in the first half of 2011, is conditioned on a "majority of the minority" voting provision, which requires approval by holders of a majority of Mediacom's outstanding Class A shares not held by Mr. Commisso, his affiliates and immediate family, or Mediacom's directors and executive officers. The transaction is also subject to closing conditions, the receipt of sufficient funds to pay the merger consideration and transaction costs pursuant to existing credit facilities of subsidiaries of Mediacom.
The firm’s investigation concerns whether the proposed acquisition properly values Mediacom. Specifically, the investigation seeks to determine whether the transaction undervalues the company to the detriment of its shareholders and, if so, the extent to which the company is undervalued in the proposed transaction.
Levetown & Jenkins, LLP is a national law firm comprised of former federal and state prosecutors with extensive experience in the investigation and prosecution of shareholder fraud. The firm specializes in the representation of investors in shareholder and securities fraud class actions. If you currently own shares of Mediacom and wish to obtain additional information about your rights as a shareholder, please contact Michael T. Harrison, Esq. at (713) 392-7465 or firstname.lastname@example.org. For more information about the firm, please visit www.levjen.com.Attorney Advertising. (C) 2010 Levetown & Jenkins, LLP. The law firm responsible for this advertisement is Levetown & Jenkins, LLP ( www.levjen.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
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