ITC DELTA COM : The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of ITC^DeltaCom, Inc. by Earthlink, Inc.

October 01, 2010 at 05:40 pm EDT

MarketScreener.com By The editorial team

Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors ("Board") of ITC^DeltaCom, Inc. ("DeltaCom" or the "Company") (OTC: ITCD.OB) in connection with their efforts to sell DeltaCom to Earthlink, Inc. ("Earthlink") (NASDAQ: ELNK). If the transaction is completed, DeltaCom shareholders will receive $3.00 in cash for each share of DeltaCom common stock they hold. The transaction is expected to close in the fourth quarter of 2010 or the first quarter of 2011.

Robbins Umeda LLP's investigation concerns whether DeltaCom's Board undertook a fair process to obtain fair consideration for all shareholders of DeltaCom. Specifically, our investigation concerns whether members of the Company's Board breached their fiduciary duties to DeltaCom's shareholders by failing to adequately shop the Company before entering into the transaction with Earthlink.

If you are a shareholder of DeltaCom, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com.

Robbins Umeda LLP is a securities litigation firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.