The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Kit di...
30 Novembro 2012 - 5:10PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Kit digital, Inc. (“KITD” or the “Company”) (NasdaqGS: KITD) for
possible breaches of fiduciary duty and other violations of state
law in connection with the proposed sale of the Company to former
CEO Kaleil Isaza Tuzman.
Click here to learn how to join the action:
http://zlk.9nl.com/kitdigital-kitd/, or call: 877-363-5972.
There is no cost or obligation to you.
Tuzman offered to acquire all outstanding shares of KITD he does
not own for $3.75 per share, representing an approximate value of
$198 million. Tuzman currently owns an approximate 4% stake in
KITD. The investigation concerns, among other things, whether the
proposed consideration to be paid to KITD shareholders is unfair,
inadequate, and substantially below the fair or inherent value of
KITD, and whether Tuzman is taking advantage of its position to
purchase the Company at an unfair price . In particular, KITD stock
has traded higher than the offer price as recently as July 19,
2012, while at least one analyst set a price target for KITD stock
at $7.00 per share.
If you own common stock in KITD and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or http://zlk.9nl.com/kitdigital-kitd/.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. The attorneys at Levi & Korsinsky have been appointed
by numerous courts throughout the country to serve as lead counsel
on behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
CONTACT:Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard
Korsinsky, Esq.30 Broad Street - 24th FloorNew York, NY 10004Tel:
(212) 363-7500Toll Free: (877) 363-5972Fax: (866)
367-6510www.zlk.com
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