NEW YORK, Oct. 13, 2009 (GLOBE NEWSWIRE) -- Attorney Advertising. The law firm of Harwood Feffer LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Starnet Networks, Corp. ("Starnet" or the "Company") (Nasdaq:STAR) arising out of the proposed acquisition of Starnet by Cisco (Nasdaq:CSCO).
On Tuesday, October 13, 2009, Cisco announced that it would acquire Starnet in an all cash offer. Under the terms of the agreement, Starnet stockholders will receive cash of $35.005 in exchange for each share of Starnet common stock. However, Starnet may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, Cisco may be underpaying for Starnet, thus unlawfully harming Starnet shareholders.
Harwood Feffer LLP has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
If you own Starnet common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
James G. Flynn, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10016
Phone Numbers: (877) 935-7400
(212) 935-7400
Email: jflynn@hfesq.com
Website: http://www.hfesq.com
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
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