Law Office of Brodsky & Smith, LLC Announces Investigation of Global Traffic Networks, Inc.
August 08 2011 - 5:02PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Global Traffic Networks, Inc. (“Global” or the “Company”) (Nasdaq:
GNET) relating to the proposed acquisition by an affiliate of GTCR,
LLC (“GTCR”).
Under the terms of the transaction Global shareholders would
receive $14.00 in cash for each share Global stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Global
for not acting in the Company’s shareholders' best interests in
connection with the sale process to GTCR. The transaction may
undervalue Global as Global stock traded at $13.65 as recently as
May 3, 2011 and an analyst has set a price target of $16.00 per
share.
If you own shares of Global stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, or by calling toll free
877-LEGAL-90.
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