SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

WC CAPITAL MANAGEMENT LLC

(Last)

(First)

(Middle)

300 DRAKES LANDING RD

STE 230

(Street)

GREENBRAE

94904

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
FIBERNET TELECOM GROUP INC\ [ FTGX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/27/2009

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/27/2009		P		10,770	A	$8.96	1,244,233	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/27/2009		P		1,230	A	$8.9979	1,245,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/27/2009		P		2,000	A	$8.97	1,247,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/27/2009		P		2,000	A	$8.9855	1,249,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/27/2009		P		1,000	A	$9.11	1,250,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/27/2009		P		1,000	A	$9.2496	1,251,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/27/2009		P		500	A	$9.2	1,251,963	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/27/2009		P		500	A	$9.205	1,252,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/27/2009		P		500	A	$9.09	1,252,963	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/28/2009		P		2,500	A	$9.206	1,255,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/28/2009		P		1,000	A	$9.606	1,256,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/28/2009		P		1,000	A	$9.597	1,257,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/28/2009		P		1,000	A	$9.53	1,258,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/28/2009		P		1,000	A	$9.546	1,259,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/28/2009		P		1,000	A	$9.54	1,260,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/28/2009		P		1,000	A	$9.59	1,261,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/28/2009		P		4,000	A	$9.59	1,265,463	I⁽¹⁾⁽²⁾	See Notes
Common Stock	01/28/2009		P		1,500	A	$9.4	1,266,963	I⁽¹⁾⁽²⁾	See Notes

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The securities reported as beneficially owned by WC Capital Management, LLC, a California limited liability company ("WC"), on this Form 4 include securities also beneficially owned by Aaron H. Braun (collectively with WC, the "Filers"). WC is the general partner and investment adviser of investment limited partnerships and the investment adviser to the accounts. Mr. Braun is the manager and controlling owner of WC. These securities are held directly by the investment limited partnerships of which WC is general partner and investment adviser and the other accounts of which it is investment adviser, for the benefit of the investors in those partnerships and accounts.

2. The Filers are filing this Form 4 jointly, but not as a group, and each of them expressly disclaims membership in a group within the meaning of rule 13d-5(b)(1) under the Securities Exchange Act of 1934, as amended. Each of the Filers disclaims beneficial ownership of these securities except to the extent of that Filer's pecuniary interest therein.

	WC Capital Management LLC, by Aaron Braun, Manager	01/29/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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