Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of ITC^DeltaCom, Inc. ("ITC^DeltaCom" or the "Company") (OTC BB: ITCD.OB) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to EarthLink, Inc. (NasdaqGS: ELNK). The proposed transaction offers ITC^DeltaCom shareholders to only receive $3.00 in cash for each share they own. The transaction is valued at approximately $516 million, including $325 million in debt, and is expected to be completed in the fourth quarter of 2010 or the first quarter of 2011. Request more information by clicking here: www.faruqilaw.com/itcdelta
Whether the ITC^DeltaCom's Board of Directors breached their fiduciary duties to ITC^DeltaCom's stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues ITC^DeltaCom's shares and by how much this proposed transaction undervalues the Company to the detriment of ITC^DeltaCom shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in ITC^DeltaCom and wish to obtain additional information, please visit us at www.faruqilaw.com/itcdelta or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Contacts:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New
York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll
Free: (877) 247-4292
Phone: (212) 983-9330