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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of GLBC

Levi & Korsinsky is investigating the Board of Directors of Global Crossing Ltd. (“Global Crossing” or the “Company”) (Nasdaq: GLBC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Level 3 Communications, Inc.

New York, NY, April 12, 2011 -- Levi & Korsinsky is investigating the Board of Directors of Global Crossing Ltd. (“Global Crossing” or the “Company”) (Nasdaq: GLBC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Level 3 Communications, Inc. (Nasdaq: LVLT). Under the terms of the transaction, Global Crossing shareholders will receive 16 shares of Level 3 common stock for each share of Global Crossing common stock or preferred stock they own. The transaction implies a value of approximately $23.04 per Global Crossing share for a transaction value of approximately $3.0 billion, including the assumption of debt.

Click here to learn how to join the action: http://www.zlk.com/global-crossing-glbc.html, or call: 877-363-5972.

The investigation concerns whether the Global Crossing Board of Directors breached their fiduciary duties to Global Crossing stockholders by failing to adequately shop the Company before entering into this transaction and whether Level 3 Communications is underpaying for Global Crossing shares, thus unlawfully harming Global Crossing stockholders.

If you own common stock in Global Crossing and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/global-crossing-glbc.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972

Contact:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St.
15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com  
 
 

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