Faruqi & Faruqi, LLP Announces Investigation of Knology, Inc. (KNOL)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Knology, Inc. (“Knology” or the “Company”) (NASDAQ: KNOL) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to WOW! Internet, Cable & Phone, controlled by Avista Capital Partners, in an all-cash transaction valued at approximately $1.4 billion. Under the terms of the proposed transaction, Knology shareholders will receive $19.75 in cash per each share of Knology common stock they own.
Whether Knology’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Knology’s shares and by how much this proposed transaction undervalues the Company to the detriment of Knology’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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