Robbins Umeda LLP Announces an Investigation of Global Traffic Network, Inc.
04 Agosto 2011 - 7:52PM
Business Wire
Robbins Umeda LLP, a shareholder rights litigation firm, has
commenced an investigation into possible breaches of fiduciary duty
and other violations of state law by members of the board of
directors of Global Traffic Network, Inc. (NASDAQ: GNET) in
connection with their efforts to sell the company to an affiliate
of GTCR, LLC, a leading private equity firm.
If you own stock in Global Traffic Network and would like more
information about your shareholder rights, please contact attorney
Gregory E. Del Gaizo at 800-350-6003 or via the shareholder
information form on the firm's website.
On August 3, 2011, Global Traffic Network announced that it had
entered into a definitive merger agreement under which GTCR
affiliates will acquire all outstanding shares of the company
through a cash tender offer that is expected to commence shortly.
The tender will be followed by a merger in which each share of
common stock not acquired in the tender offer will be converted to
the right to receive $14.00 per share in cash. The transaction is
expected to be completed in the fourth quarter of 2011.
Robbins Umeda LLP's investigation focuses on whether Global
Traffic Network's board is undertaking a fair process to obtain
maximum value and adequately compensate shareholders. At least two
analysts have released target prices for Global Traffic Network
that value the company's stock at $15.25 and $16.00 per share, both
higher than the price being offered by GTCR affiliates as part of
the merger agreement.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
firm's skilled litigation teams include former federal prosecutors,
former defense counsel from top multinational corporate law firms,
and career shareholder rights attorneys. Robbins Umeda LLP has
helped its clients realize more than $1 billion of value for
themselves and the companies in which they have invested. For more
information, please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/global-traffic-network/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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