Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of AboveNet, Inc. ("AboveNet" or "ABVT") (NYSE: ABVT) to privately-held Zayo Group, LLC for shareholders. Under the proposed going-private transaction, AboveNet shareholders will receive only $84.00 in cash for each share of AboveNet/ABVT stock owned, which is well below the target price recently announced by analysts.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction with a total equity value of approximately $2.2 billion. The deal is expected to close in mid-2012.

The investigation centers on whether AboveNet shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues AboveNet stock, and whether AboveNet's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, "Although the acquisition price represents an approximate 13% premium over the closing price of AboveNet shares the day prior to the buyout announcement, AboveNet shares closed at $78.07 per share as recently as May 31, 2011. Further, at least one analyst has stated that the true inherent value of AboveNet/ABVT shares may be as high as $86.00 per share. Based on these and other factors, we are investigating whether the transaction undervalues AboveNet stock. Our lawsuit will seek to obtain the highest share price for all shareholders."

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com