Berman Tabacco Announces Investigation of Consolidated Communications Holdings, Inc. (CNSL) for Potential Breaches of Fiduciary Duty

Rhea-AI Summary

Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) is under investigation by Berman Tabacco for a take-private acquisition announced on October 16, 2023. The investigation is related to potential violations and breaches of fiduciary duty and other violations of state law by the Company's board of directors.

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• None.

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• The investigation may lead to negative publicity and potential legal repercussions for Consolidated Communications Holdings, Inc.

SAN FRANCISCO--(BUSINESS WIRE)-- Berman Tabacco, a national law firm representing investors, is investigating Consolidated Communications Holdings, Inc., a Delaware corporation, (“Consolidated Communications” or the “Company”) (NASDAQ: CNSL) in connection with a take-private acquisition announced by the Company on October 16, 2023.

About the Investigation

On October 16, 2023, Consolidated Communications announced that, on October 15, 2023, the Company entered into an agreement to be acquired in a take-private transaction by Condor Holdings LLC, a Delaware limited liability company affiliated with certain funds managed by affiliates of Searchlight Capital Partners, L.P. (“Searchlight”) and other investors for $4.70 per share. This all-cash transaction values the Company’s implied enterprise value at approximately $3.1 billion. Searchlight is Consolidated Communications’ largest shareholder and two of its partners serve as members on the Company’s Board of Directors.

Berman Tabacco is investigating the relationship between Searchlight and Consolidated Communications to ensure that the board of Consolidated Communications met its fiduciary obligations in negotiating and agreeing to the transaction as well as whether all material facts about the acquisition have been adequately disclosed.

Contact

If you are a stockholder of Consolidated Communications and would like to learn more information about Berman Tabacco’s investigation or have information concerning this investigation, please contact us here: Contact | Berman Tabacco.

About Berman Tabacco

Since 1982, our firm has prosecuted hundreds of securities and antitrust complex cases. The firm and its attorneys have been recognized for their work on behalf of plaintiffs, including by Chambers USA, Benchmark Litigation, which has ranked the firm as Highly Recommended and a Top Ten Plaintiffs, The Legal 500, U.S. News & World Report-Best Lawyers, The Daily Journal, Lawdragon, Who's Who Legal, and Super Lawyers.

The firm has offices in San Francisco, California and Boston, Massachusetts.

This notice may constitute attorney advertising.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231109320733/en/

Berman Tabacco

Jeffrey V. Rocha, Esq.

425 California Street, Suite 2300

San Francisco, CA 94104

Email: law@bermantabacco.com

Source: Berman Tabacco

FAQ

What is Berman Tabacco investigating regarding Consolidated Communications Holdings, Inc. (NASDAQ: CNSL)?

Berman Tabacco is investigating potential violations and breaches of fiduciary duty and other violations of state law by the Company's board of directors in connection with a take-private acquisition announced on October 16, 2023.

What is the ticker symbol of Consolidated Communications Holdings, Inc.?

The ticker symbol for Consolidated Communications Holdings, Inc. is NASDAQ: CNSL.

When was the take-private acquisition announcement made by Consolidated Communications Holdings, Inc.?

The take-private acquisition was announced by Consolidated Communications Holdings, Inc. on October 16, 2023.