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The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of LoopNet, Inc

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^{Published in Business and Finance on Thursday, April 28th 2011 at 13:41 GMT by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of LoopNet, Inc. (Nasdaq: LOOP) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to CoStar Group, Inc. (Nasdaq: CSGP). Under the terms of the proposed transaction, LoopNet shareholders will receive $16.50 in cash and 0.03702 shares of CoStar common stock per LoopNet share for a total transaction value of approximately $860 million.

The investigation concerns whether the LoopNet Board of Directors breached their fiduciary duties to LoopNet stockholders by failing to adequately shop the Company before entering into this transaction and whether CoStar Group, Inc. is underpaying for LoopNet shares.

If you own common stock in LoopNet and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/loopnet-loop.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.