SAN DIEGO, Dec. 17, 2024 (GLOBE NEWSWIRE) — Johnson Fistel, LLP has initiated an investigation into whether the board members of Frontier Communications Parent, Inc. (NASDAQ: FYBR) breached their fiduciary duties in connection with its proposed merger with Verizon Communications Inc. (NYSE:VZ).

On November 13, 2024, Frontier Communications shareholders approved the merger agreement with Verizon, with approximately 63% of shareholders voting in favor of the merger. However, ten of Frontier’s twelve largest shareholders voted against approving the merger, complaining primarily that the merger significantly undervalued Frontier. For example, Cooper Investors PTY Limited, which owns 800,000 shares, said the merger “significantly undervalues” Frontier and “does not adequately compensate shareholders for the expected synergies that would be created by the transaction,” and believes that Frontier’s “stand-alone value is around around the clock”. 62% above the offer price.” Additionally, an analyst from New Street Research stated in a report that Verizon “could comfortably pay at least $67 and still create value for its shareholders.” The New Street Research report also argued that shareholders should reject the deal unless they get a higher price.

You can click or copy and paste the following link to participate in this research:
https://www.johnsonfistel.com/investigations/frontier-communications-parent-inc
If you are a Frontier shareholder and believe the proposed acquisition price is too low, or would like to learn more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you send an email, please include a phone number.

What happens if I have relevant, non-public information? Anyone with nonpublic information about the company should consider assisting our investigation or taking advantage of the SEC’s whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive awards totaling up to thirty percent of any successful recovery by the SEC. For more information, contact Jim Baker at (619) 814-4471 or [email protected].

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia and Colorado. The firm represents retail and institutional investors in shareholder derivative and securities class actions. Further information about the firm and its lawyers can be found at http://www.johnsonfistel.com.

Lawyer advertising.
Past results are no guarantee of future results.
The services can be provided by lawyers in any of our offices.

Johnson Fistel, LLP paid for the distribution of this advertisement and Frank J. Johnson is the attorney responsible for its contents.

Contact:
Johnson Fistula, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
[email protected] or [email protected]