Harwood Feffer LLP ( www.hfesq.com) is investigating potential claims against the board of directors of Tollgrade Communications, Inc. ("Tollgrade" or the "Company") (NASDAQ:TLGD) concerning possible breaches of fiduciary duty and other violations of law related to the proposed acquisition by an affiliate of Golden Gate Capital in a transaction valued at approximately $137 million.

Under the terms of the agreement, Tollgrade shareholders will receive $10.10 per share in cash. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the board of directors undertook a fair process to obtain fair consideration for all shareholders of Tollgrade. Among other things, Tollgrade stock has traded as high as $10.20 per share as recently as February 16, 2011.

If you own shares of Tollgrade and would like to learn more about these claims or if you wish to discuss this matter and have any questions or information concerning this announcement, please contact Daniella Quitt, Esq. at dquitt@hfesq.com. You may also call Ms. Quitt at (877) 935-7400. For more information about class actions, or to sign up online, please visit our website: www.hfesq.com .

Harwood Feffer LLP is a national shareholder litigation firm. Harwood Feffer LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ( www.hfesq.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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