Glancy Binkow & Goldberg LLP Announces Continued Investigation of AboveNet, Inc.

LOS ANGELES--(BUSINESS WIRE)--

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of AboveNet, Inc. (“AboveNet” or the “Company”) ABVT related to the proposed acquisition of the Company by Zayo Group, LLC. The transaction is valued at approximately $2.2 billion or $84.00 per share.

The investigation concerns whether the Board of Directors of AboveNet breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $53.55 on November 23, 2011 to $74.25 on March 16, 2012. Further, at least one analyst has set a target price for the Company's stock at $86.00.

If you are a shareholder of AboveNet, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com.

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