Windstream Settles Investor Suits Over $2B Paetec Buy

Law360, New York (October 14, 2011, 7:06 PM EDT) -- Broadband service provider Windstream Corp. on Friday settled a consolidated shareholder suit in Delaware seeking to block its planned $2.3 billion takeover of Paetec Holding Corp., agreeing to provide Paetec shareholders with additional information about the acquisition.

In a filing with the U.S. Securities and Exchange Commission, Windstream said it had entered into a memorandum of understanding regarding the settlement of the Delaware Chancery Court class action.

Though it denied any wrongdoing and said the disclosures contained in its proxy statement were adequate, it agreed to...
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