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Rigrodsky & Long, P.A. Investigates Mediacom Communications Corporation Going Private Offer
Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Mediacom Communications Corporation (“Mediacom” or the “Company”) (Nasdaq: MCCC) concerning the Company’s receipt of a non-binding proposal from Mediacom’s founder, Chairman and Chief Executive Officer, Rocco B. Commisso, for a going private transaction (the “Proposal”).
Are you affected?
- Do you own Mediacom Communications Corporation common stock?
- Did you purchase your shares before May 31, 2010?
- Do you feel that the Company CEO's proposal to take the Company private is unfair?
- Do you want to discuss your rights?
Contact us regarding this investigation.
Full Press Release
Rigrodsky & Long, P.A. Investigates Mediacom Communications Corporation Going Private Offer
Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Mediacom Communications Corporation (“Mediacom” or the “Company”) (Nasdaq: MCCC) concerning the Company’s receipt of a non-binding proposal from Mediacom’s founder, Chairman and Chief Executive Officer, Rocco B. Commisso, for a going private transaction (the “Proposal”).
The investigation concerns whether Mediacom’s Board of Directors is adequately shopping the Company and working to obtain the best price possible for Mediacom’s shareholders. The Proposal contemplates the acquisition of all of the Class A and Class B shares of Mediacom common stock not already beneficially owned by Mr. Commisso at a price of $6.00 per share in cash. According to Mr. Commisso’s May 31, 2010 letter to Mediacom’s Board of Directors, Mr. Commisso already beneficially owns approximately 40% of the Company’s outstanding common stock which represents approximately 87% of the voting power. On June 1, 2010, in response to Mr. Commisso’s offer, the Company appointed a Special Committee of independent directors to evaluate and consider the Proposal.
If you own the common stock of Mediacom and purchased your shares before May 31, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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