NEW YORK, Nov. 7, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Inteliquent Inc.
("IQNT" or the "Company") in connection with the proposed
acquisition of the Company by an affiliate of GTCR LLC (the
"affiliate"). On November 2,
2016, the Company announced that it had reached a definitive
agreement for the affiliate to acquire all outstanding shares of
IQNT in a transaction valued at approximately $800 million. Under the terms of the
agreement, the Company's shareholders will receive $23.00 in cash for each IQNT share they own.
WeissLaw is investigating whether IQNT's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $24.00 per share, or $1.00 above the offer price. Additionally,
following the acquisition announcement, the Company reported
impressive financial results for the third quarter of fiscal year
2016. On November 7, 2016, IQNT
reported revenues of $99.4 million,
representing a remarkable 56% year-over-year growth when compared
to the $63.7 million reported in the
same period of the previous year.
Given these facts, WeissLaw is investigating whether IQNT's
Board acted in the best interests of IQNT's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own IQNT shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/inteliquent-inc/
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SOURCE WeissLaw LLP
