SureWest Communications (NASDAQ:SURW) Takeover Prompts Investor Investigation Over Potential Breaches Of Fiduciary Duties

If you are a current investor in SureWest Communications (NASDAQ:SURW) shares and purchased your NASDAQ:SURW shares prior to the announcement, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
SureWest Communications
Affected Securities: 
NASDAQ: SURW

San Diego, Feb. 6, 2012 (Shareholders Foundation) -- The announcement by SureWest Communications that agreed to by acquired by Consolidated Communications Holdings for $23 per NASDAQ:SURW caused an investigation for investors in SureWest Communications (NASDAQ:SURW) shares concerning whether the offer to acquire SureWest Communications and the buyout process are unfair to investors in NASDAQ:SURW shares.

The investigations by law firms concern whether SureWest, certain officers and directors, and/or others breached their fiduciary duties owed to SureWest Communications (NASDAQ:SURW) investors in connection with the proposed acquisition.

On Monday, February 6, 2012, SureWest Communications (Nasdaq: SURW) and Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) announced that they hae entered into an agreement under which Consolidated Communications Holdings will acquire all the outstanding shares of SureWest Communications in a cash and stock transaction valued at $23.00 per share, or a total of approximately $340.9 million, exclusive of debt.
SureWest Communications said the offer represents a 47% premium to SureWest's stock price as of the close on February 3, 2012.
Following the takeover news shares of SureWest Communications (Public, NASDAQ:SURW) surged from $15.58 on Friday to $22.39 per share on Monday, February 6, 2012.

However, SureWest Communications’ performance for its investors increased over the past years. SureWest Communications’ annual Revenue rose from $174.26million in 2007 to $243,50million in 2010 and its third quarter Revenue in 2011 increased from $61.12million in 2010 to $63.00million.

Therefore the investigation for NASDAQ:SURW investors concerns whether the SureWest Communications Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to SureWest Communications (NASDAQ:SURW) shareholders by failing to adequately shop the Company before entering into this transaction. A potential securities class action lawsuit would seek to maximize the amount of money and information NASDAQ:SURW shareholders would receive in a buyout, so the law firm.