Law Office of Brodsky & Smith, LLC Announces Investigation of
Kit Digital, Inc.
BALA CYNWYD, Pa., Dec. 1, 2012 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Kit Digital,
Inc. ("Kit Digital" or the "Company") (NASDAQ-NMS: KITD) relating
to the proposed acquisition by the Company's largest shareholder
and formor CEO, Kaleil Isaza Tuzman ("Tuzman").
Under the terms of the offer, Kit Digital shareholders will
receive only $3.75 in cash for each
share of Kit Digital stock they own. The investigation concerns
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Kit Digital for not acting in the
Company's shareholders' best interests in connection with the sale
process to Tuzman. The transaction may undervalue the Company and
will result in a loss for many Kit Digital shareholders. For
example Kit Digital stock traded at $12.47 on February8, 2012 and $4.70 as recently as June
25, 2012. In addition, an analyst has set a $7.00 per share price target for Kit Digital
stock.
If you own shares of Kit Digital 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 visiting
http://brodsky-smith.com/511-kitd-kit-digital-inc.html, by calling
toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC