NEW YORK, Nov. 15, 2013 /PRNewswire/ -- Tripp Levy PLLC, a
leading securities and shareholder rights law firm that represents
shareholders nationwide, announces that it is investigating the
acquisition Innotrac Corporation (NASDAQ: INOC) ("Innotrac" or the
"Company") on behalf of shareholders. It was announced that
an affiliate of Sterling Partners has entered into a definitive
merger agreement to acquire all of the outstanding shares of
Innotrac of $8.20 per share in
cash.
The investigation concerns whether the senior management and
board of directors of Innotrac breached their fiduciary duties to
shareholders by not engaging in a full and fair process to insure
shareholders received the maximum value for their shares, while, at
the same time, seeking to benefit themselves for their own
self-interests. Indeed, Scott
Dorfman, Innotrac's CEO, Chairman and largest shareholder,
and other members of the Company's management will continue their
leadership of the Company and will retain a significant equity
position in the Company. Mr. Dorfman has also agreed to
contribute all of his shares, representing 44% of the Company's
outstanding stock to Sterling.
If you are a shareholder of Innotrac and would like additional
information regarding this matter, at no cost or expense, please
contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 1-877-772-3975
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC is a leading securities and shareholder rights
law firm that has extensive experience in mergers and takeovers,
and has assisted in the recovery of millions of dollars for
shareholders around the globe. Attorney advertising.
Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC