Kit Digital Going Private Proposal Investigated by the Securities Attorneys at The Briscoe Law Firm and Powers Taylor, LLP
December 03 2012 - 9:29AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating potential legal claims against the Board of
Directors of Kit Digital, Inc. (“Kit”) (NasdaqGS: KITD) related to
a going private proposal from its former chairman and CEO Kaleil
Tuzman. Under the terms of the proposal, Mr. Tuzman would acquire
all outstanding share of Kit’s common stock for $3.75 per share,
well below at least one analyst’s estimated value of $13.00 per
share and the 52-week high of $12.65.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
According to shareholder rights attorney Patrick Powers, “the
investigation relates to the fairness of the proposed transaction
to Kit shareholders and whether the Board of Directors is
adequately shopping the company in order to obtain the best
possible price for the shareholders. In addition, the firms are
actively investigating possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Kit in
connection with the potential approval of this transaction, and
whether Kit’s Board of Directors is acting in the shareholders’
best interests.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
Kit Digital (MM) (NASDAQ:KITD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Kit Digital (MM) (NASDAQ:KITD)
Historical Stock Chart
From Jul 2023 to Jul 2024