MULTIBAND CORP. SHAREHOLDER ALERT: Levi & Korsinsky Announces Investigation Into Possible Breaches Of Fiduciary Duty By Board Of Multiband Corporation In Connection With Sale Of Company To Goodman Networks
NEW YORK, June 5, 2013 /PRNewswire/ -- 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 sale of the Company to Goodman Networks. (Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO ) Click here to learn more about the investigation http://zlk.9nl.com/multiband-mbnd/, or call: 877-363-5972. There is no cost or obligation to you. Under the terms of the transaction, Multiband shareholders will receive $3.25 for each share of Multiband stock they own. The transaction has a total approximate value of $116 million, including the assumption of debt. The investigation concerns whether the Multiband Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, whether Goodman Networks is underpaying for Multiband stock, thus unlawfully harming Multiband shareholders. In particular, at least one analyst set a price target for Multiband stock at $4.00 per share. If you own common stock in Multiband and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/multiband-mbnd/. Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. 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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq.Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP
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.