|[November 30, 2012]
The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Kit digital, Inc. in Connection with a Proposed Going Private Transaction
NEW YORK --(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 substantialy 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 firstname.lastname@example.org
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
Levi & Korsinsky, LLP
Joseph Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Toll Free: (877) 363-5972
Fax: (866) 367-6510
[ Back To TMCnet.com's Homepage ]