Levi & Korsinsky is investigating the Board of Directors of Multiband Corporation (“Multiband” or the “Company”) (NASDAQ: MBND) for possible breaches of fiduciary duty and other violations of state law in connection with the rejection of a merger proposal from UniTek Global Services, Inc. (“UniTek”) (NASDAQ: UNTK). Under the terms of the transaction, Multiband shareholders would receive $4.50 per share in cash and UniTek common stock. Click here to learn more about the investigation: http://www.zlk.com/multiband-mbnd, or call: 877-363-5972. The investigation concerns whether the Board of Multiband is acting in Multiband shareholders’ best interests by refusing to enter into negotiations with UniTek and rejecting the proposal. In particular, the offer price of $4.50 per share represents more than a 67% premium over the Company’s August 5, 2011 closing price. Furthermore, shareholders owning approximately 7.7 percent of Multiband’s stock indicated their support for the merger in an August 4, 2011 SEC filing. If you own common stock in Multiband and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions 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.
Shares of Multiband Corporation (Nasdaq:MBND) have taken a tremendous swing upward. The stock is trading at $3.46 as of 3:31 p.m. ET, 26.3% above Wednesday's closing price of $2.74. Volume is at 412,212, 2.9 times the daily average of 140,600.