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Harwood Feffer LLP Announces Investigation of LoopNet, Inc.

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^{Published in Business and Finance on Thursday, April 28th 2011 at 9:16 GMT by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--Harwood Feffer LLP ([ www.hfesq.com ]) is investigating potential claims against the board of directors of LoopNet, Inc. ("LoopNet" or the "Company") (Nasdaq: LOOP) concerning the announcement that it had entered into an agreement and plan of merger with CoStar Group, Inc. (Nasdaq:CSGP) and a merger subsidiary (aCoStara) in a transaction with a total equity value of approximately $860 million.

On April 27, 2011, it was announced that CoStar agreed to buy LoopNet. LoopNet shareholders will receive $16.50 in cash and 0.03702 shares of CoStar for each LoopNet share they own. The deal is expected to close by the end of 2011. Our investigation concerns the board of directorsa™ process for consideration of the proposed transaction and whether the consideration to be paid to LoopNet shareholders is fair and adequate.

If you own shares of LoopNet and would like to learn more about these claims or if you wish to discuss this matter and have any questions or information concerning this announcement, please contact Robert I. Harwood, Esq. at [ rharwood@hfesq.com ] or James G. Flynn, Esq. at [ jflynn@hfesq.com ]. You may also call them at (877) 935-7400. For more information about class actions, please visit our website: [ www.hfesq.com ].

Harwood Feffer LLP is a national shareholder litigation firm. Harwood Feffer LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ([ www.hfesq.com ]). Prior results do not guarantee or predict a similar outcome with respect to any future matter.