Faruqi & Faruqi, LLP Is Investigating KIT Digital, Inc. for Potential Breaches of Fiduciary Duties by Its Board of Directors ...
November 29 2012 - 6:01PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of KIT Digital, Inc. (“KITD” or the “Company”) (NASDAQ:
KITD) for potential breaches of fiduciary duties in connection with
their conduct related to the proposed buyout of the Company by its
largest shareholder and former chair and CEO, Kaleil Isaza Tuzman,
in an all-cash deal valued at approximately $198 million. Under the
terms of the proposed transaction, KITD’s stockholders will receive
$3.75 in cash for each share of KITD’s common stock they own.
Request more information now by clicking here:
www.faruqilaw.com/KITD. There is no cost or
obligation to you.
This investigation is focused on whether KITD’s Board of
Directors is acting in accordance with their fiduciary duties to
KITD’s stockholders to conduct an adequate and fair sales process
to sell the Company, whether KITD’s Board of Directors is
adequately negotiating a price increase for the proposed
transaction, and by how much this proposed transaction undervalues
the Company to the detriment of KITD’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, throughout all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in KITD and wish to obtain additional
information and protect your investments free of charge, please
visit us at www.faruqilaw.com/KITD or contact Juan E. Monteverde,
Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone
at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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