Abe Shainberg -- One More Law Firm Joining the Party
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The Law Office of Abe Shainberg Launches an Investigation into the Board of XOHO
The Law Office of Abe Shainberg is investigating the Board of Directors of XO Holdings, Inc. for possible breaches of fiduciary duty in connection with the proposed takeover bid from ACF Industries Holding Corporation, an affiliate of Carl Icahn.
FOR IMMEDIATE RELEASE
PRLog (Press Release) – Jan 27, 2011 – The Law Office of Abe Shainberg is investigating the Board of Directors of XO Holdings, Inc. (OTC: XOHO) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed takeover bid from ACF Industries Holding Corporation, an affiliate of Carl Icahn. Icahn is the chairman of XO Holdings and 91% of XO’s outstanding common stock. Under the terms of the proposed transaction, XO Holdings stockholders would receive $0.70 cash per share of XO Holdings common stock.
The investigation concerns whether the proposed price is inadequate and substantially below the inherent value of XO and whether Icahn is acting in the best interests of XO Holdings shareholders. XO Holdings stock traded as high as $0.76 per share as recently as January 18, 2011, the day before the proposal was made. Icahn stated that in no event will he vote his shares in favor of another bid by a third party.
If you own common stock in XO Holdings and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at as@ashainberglaw.com or by telephone at (212) 425-7286, or visit ashainberglaw.com.
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Abe Shainberg, Esq.
132 East 43rd Street, Suite 512
New York, NY 10017
Tel: (212) 425-7286
Fax: (866) 699.3880
Email: as@ashainberglaw.com |
