NEW YORK, May 19, 2009 (GLOBE NEWSWIRE) -- The law firm of Levi & Korsinsky LLP ("L&K") has initiated an investigation into the circumstances surrounding the acquisition of D&E Communications Inc. ("D&E" or the "Company") (Nasdaq:DECC) by Windstream Corp. (NYSE:WIN). L&K is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of D&E arising out of their agreement to sell the Company to Windstream in a combination stock-for-stock and cash merger transaction valued at approximately $10.88 per share, or $330 million. The transaction appears to be unfair given that, among other things, the Company's book value alone equals $10.76 and the Company generates revenues of approximately $149.5 million per year. Thus, the price agreed to by D&E's Board appears to offer little, if any, price premium to D&E's shareholders.
If you own common stock in D&E and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/decc.html
L&K has extensive experience in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.