The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of INX, Inc.
02 Novembre 2011 - 12:39AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of INX, Inc. (“INX”) (NASDAQ: INXI)
to Presidio, Inc. for shareholders. Under the proposed buyout, INXI
shareholders will receive only $8.75 in cash for each share of INXI
stock owned, even though the company’s shares have increased in
value over $1.00 per share in the prior six-month period.
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.
The definitive acquisition agreement involves an all cash
transaction valued at approximately $85 million. The transaction is
expected to be completed in early 2012.
“We are investigating the fairness of the proposed transaction
to INXI shareholders, whether the shareholders are being underpaid
for their stock, and whether INXI’s Board of Directors acted in the
shareholders’ best interest,” said shareholder rights attorney
Willie Briscoe. In particular, although the acquisition price
represents an approximate 15% premium over INXI’s closing price the
day prior to the buyout announcement, INXI’s shares traded as high
as $8.49 per share as recently as July 2011. In addition, during
the six-month period prior to the acquisition, INXI’s shares have
increased in value by over $1.00 per share. “Based on these and
other factors, we believe that the transaction may significantly
undervalue INXI stock. Our lawsuit will seek to obtain the highest
share price for all shareholders,” said shareholder rights attorney
Willie Briscoe.
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.
Inx Inc. (MM) (NASDAQ:INXI)
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