SAN DIEGO, Nov. 1, 2011 /PRNewswire/ -- Robbins Umeda LLP, a
shareholder rights litigation firm, has commenced an investigation
into possible breaches of fiduciary duty and other violations of
state law by members of the board of directors of INX Inc. (NASDAQ:
INXI) in connection with their efforts to sell the company to
Presidio, Inc.
(Logo:
http://photos.prnewswire.com/prnh/20111014/MM87207LOGO)
On November 1, 2011, INX announced
that it had entered into a definitive merger agreement pursuant to
which Presidio will acquire all outstanding shares of the company
in an all-cash transaction. According to the terms of the
deal, shareholders will receive $8.75
for each share of INX they own. The transaction is expected
to close in early 2012.
Robbins Umeda LLP's investigation focuses on whether INX's board
is undertaking a fair process to obtain maximum value and
adequately compensate shareholders in light of the company's
positive financial results. On August 15,
2011, INX announced record revenues and gross profit for the
second quarter of fiscal year 2011. The company reported
record quarterly revenue of $116.9
million, a 39.1% increase over the same period during the
previous year. Additionally, INX announced that gross profit
on total revenue increased 35% to $23
million, compared to only $17.1
million in the second quarter of the previous year.
If you own stock in INX and would like more information about
your shareholder rights, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the
shareholder information form on the firm's website.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
firm's skilled litigation teams include former federal prosecutors,
former defense counsel from top multinational corporate law firms,
and career shareholder rights attorneys. Robbins Umeda LLP
has helped its clients realize more than $1
billion of value for themselves and the companies in which
they have invested. For more information, please go to
http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/inx-inc/
Attorney Advertising. Past results do not guarantee a
similar outcome.
SOURCE Robbins Umeda LLP