Mediacom Shareholder Sues Over Privatization Bid

Law360, New York (June 10, 2010, 2:12 PM EDT) -- A shareholder of Mediacom Communications Corp. has leapt into action to prevent CEO and controlling shareholder Rocco Commisso from taking the cable service provider private, saying Commisso has dictated the terms of a severely lopsided deal.

The class action complaint, filed Monday in the Delaware Chancery Court, skewers Mediacom and its board of directors for rigging a sweetheart deal that allows Commisso, who already holds 40 percent of the company stock and the lion’s share of the voting power, to buy up outstanding stock at a...
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