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Technology Stocks : XO Holdings, Inc. (XOHO - XO Communications) -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (580)	1/28/2011 4:32:38 AM
From: tech101	1 Recommendation Respond to of 615

Madoff's Roommate - Getting Closer The Fifth pr-usa.net The Law Offices of Vincent Wong Announces an Investigation into the Board of XO Holdings, Inc. The Law Offices of Vincent Wong are 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 Carl Icahn. Icahn is the chairman of XO Holdings, and already holds a majority of XO’s common stock. Under the terms of the proposed transaction, XO Holdings stockholders would receive $0.70 cash per share of XO Holdings stock. Icahn stated that in no event will he vote his shares in favor of another bid by a third party. The investigation concerns whether the proposed price to be paid to XO Holdings shareholders is inadequate and substantially below the inherent value of XO Holdings and whether Icahn is acting in the best interests of XO Holdings shareholders. Indeed, XO Holdings stock traded as high as $0.76 per share as recently as January 18, 2011, the day before the $0.70 proposal was made. If you own common stock in XO Holdings and wish to obtain additional information, please contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.584.2740, or visit wongesq.com. Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Vincent Wong, Esq. 39 East Broadway Suite 304 New York, NY 10002 Tel. 212.584.2740 Fax. 866.367.6510 E-Mail: vw@wongesq.com

To: FJB who wrote (580)	1/28/2011 9:12:57 AM
From: tech101	1 Recommendation Respond to of 615

Madoff Roommate - Getting Even Closer Hanzel vs XO/Icahn - A New Case in the Delaware Court bloomberg.com XO Holdings Sued Over 70 Cents-a-Share Icahn Offer XO Holdings Inc. was sued by a shareholder who contends a 70 cents-a-share takeover offer from an affiliate of Chairman Carl Icahn undervalues the telecommunications company. XO directors have a duty to get the best price for the shares, which recently have been trading above the offer, said Cindy Henzel, an investor in the Herndon, Virginia-based company, in a Delaware Chancery Court complaint filed Jan. 26. Henzel said the consideration “is indeed a discount to the company’s shareholders,” and “is unfair and grossly inadequate” for XO, which reported $1.52 billion in sales for 2009. Icahn, with 91.5 percent of the stock, said Jan. 21 he would buy 100 percent of the company through his ACF Industries Holding Corp., according to the complaint. XO said Jan. 21 it had formed a special board committee to evaluate the offer. Icahn didn’t immediately return a call to his New York office seeking comment on the lawsuit. XO rose 2 cents, or 2.7 percent, to 76 cents in over-the- counter trading in New York. The stock has climbed 23 percent in the past year. The case is Henzel v. XO Holdings, CA6150, Delaware Chancery Court (Wilmington).