Bull & Lifshitz, LLP Announces Investigation of the Acquisition of Tollgrade Communications, Inc.

Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of Tollgrade Communications, Inc. (NASDAQ: TLGD) (referred to as "Tollgrade" or the “Company”) by an affiliate of Golden Gate Capital in a cash transaction valued at approximately $137 million.

Under the terms of the agreement, Tollgrade shareholders will receive $10.10 in cash per common share. The transaction has been approved by the Tollgrade board of directors and is subject to Tollgrade shareholder approval and other customary closing conditions.

Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Company’s shareholders. If you are a holder of Tollgrade stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.

If you are a shareholder of Tollgrade and would like more information about our investigation, please contact Joshua M. Lifshitz, Esq. by telephone at [phone] or by sending an e-mail including your contact information to: [e-mail]. All e-mail correspondence should make reference to Tollgrade.

Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at www.nyclasslaw.com.

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