Levi & Korsinsky, LLP Investigates Tender Offer by Majority Shareholder of FortuNet, Inc.- FNET
30 Novembre 2009 - 7:19PM
Business Wire
Levi & Korsinsky is investigating potential claims on behalf
of the shareholders of FortuNet, Inc. (“FortuNet” or the “Company”)
(NasdaqGM: FNET) arising out of the announcement that the Yuri
Itkis Gaming Trust of 1993 ("Trust") intends to commence a tender
offer for all of the outstanding shares of common stock of the
Company not already owned by the Trust at an offer price of $1.70
per share in cash. Yuri Itkis, the chairman and chief executive
officer of the Company, is the sole trustee and beneficiary of the
Trust that owns approximately 75% of the outstanding shares of the
Company. The investigation concerns whether the $1.70 offer is fair
given that the Company's shares traded as high as $3.90 as recently
as September 15, 2009 and at least one analyst has a set a $6.00
price target for FortuNet shares.
If you own common stock in FortuNet and wish to obtain
additional information, please contact us at the number listed
below or visit http://www.zlk.com/fnet1.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
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