Finkelstein Thompson LLP Announces Investigation of Iowa Telecommunications Services, Inc.
December 01 2009 - 9:28AM
Business Wire
Finkelstein Thompson LLP is investigating potential claims on
behalf of shareholders of Iowa Telecommunications Services, Inc.
("Iowa Telecom" or the "Company") (NYSE: IWA) arising from the
Company’s announcement of its intent to be acquired by Windstream
Corporation (“Windstream”). Under the terms of the proposed
agreement, Iowa Telecom shareholders will receive 0.804 shares of
Windstream stock and $7.90 in cash per each Iowa Telecom share in a
transaction with a total value of $1.1 billion.
The investigation is focused on the potential unfairness of the
price to Iowa Telecom shareholders and the process by which the
Company’s Board of Directors considered and approved the
transaction. In particular, based on the closing price of
Windstream on November 23, 2009, the transaction appears to value
Iowa Telecom shares at approximately $16.04, a price less than Iowa
Telecom’s 52-week high.
If you are interested in discussing your rights as an Iowa
Telecom shareholder, or have information relating to this
investigation, please contact Finkelstein Thompson's Washington,
D.C. offices at (877) 337-1050 or by email at
contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients
in financial litigation, and has been appointed as lead or co-lead
counsel in dozens of shareholder class actions. Indeed, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers. To learn more about
Finkelstein Thompson LLP, please visit our web site at
www.finkelsteinthompson.com. Attorney advertising. Prior results do
not guarantee similar outcomes.
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