Paetec Investor Sues To Block $2.3B Windstream Deal

Law360, New York (August 8, 2011, 10:23 PM EDT) -- A Paetec Holding Corp. shareholder on Monday filed a putative class action in Delaware looking to block the company's planned $2.3 billion sale to fellow broadband provider Windstream Corp.

Shareholder David Mattucci says the deal wrongly abandons what had been a successful independent growth strategy for Paetec that relied on buying up smaller companies.

“Neither Paetec's management, nor its board, has fully explained why the company, or its current management, needs to abandon their deliberately conceived acquisition strategy for a meager short-term profit,” Mattucci said in...
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