The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Knology, Inc. (“Knology”) (Nasdaq: KNOL) and other violations of state law by the board of directors of Knology relating to the proposed buyout of the company by WOW! Internet, Cable & Phone (“WOW!”). The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.
On April 18, 2012, Knology and WOW! announced that they had entered into a definitive Merger agreement providing for WOW! to acquire Knology for approximately $1.5 billion. Under the terms of the buyout transaction, Knology shareholders will receive $19.75 for each share of Knology common stock held.
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