SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Consolidated Communications Holdings, Inc. (Nasdaq – CNSL)
BALA CYNWYD – October 16, 2023 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Consolidated Communications Holdings, Inc. (“Consolidated Communications” or the “Company”) (Nasdaq – CNSL) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to affiliates of Searchlight Capital Partners, L.P. (“Searchlight”) and British Columbia Investment Management Corporation (“BCI,” and together with Searchlight, the “Buyers”) in an all-cash transaction with an enterprise value of approximately $3.1 billion, including the assumption of debt. Under the terms of the Agreement, Buyers will acquire all of the Consolidated common stock not already owned by Searchlight for $4.70 per share in cash.
The investigation concerns whether the Consolidated Communications Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Buyers are paying fair value to shareholders of the Company.
If you own shares of Consolidated Communications stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.