Terremark Settles Verizon Acquisition Suits

Terremark (NASDAQ:TMRK) released the following statement:

The firm “has entered into a memorandum of understanding providing for the settlement of all eight putative class action lawsuits that have been brought in Delaware and Florida in connection with the previously announced agreement and plan of merger dated Jan. 27, 2011 among Terremark, Verizon Communications Inc. and Verizon Holdings Inc., whereby all outstanding shares of Terremark common stock will be acquired by Verizon in a tender offer and merger transaction for $19.00 net per share in cash.”

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