The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Vertro, Inc.
19 Octobre 2011 - 4:47PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Vertro, Inc. (“Vertro” or the “Company”) (NASDAQ: VTRO) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Inuvo, Inc.
(AMEX: INUV). Under the terms of the transaction, Vertro
shareholders will receive 1.546 shares of Inuvo common stock per
each share of Vertro common stock they own; this represents a value
of approximately $2.25 per share.
Click here to learn how to join the action:
http://zlk.9nl.com/vertro-inc/, or call: 877-363-5972.
The investigation concerns whether the Vertro Board of Directors
breached their fiduciary duties to Vertro stockholders by failing
to adequately shop the Company before entering into this
transaction and whether Inuvo, Inc. is underpaying for Vertro
shares, thus unlawfully harming Vertro stockholders. In particular,
at least one analyst has set a price target of $3.00 per Vertro
share and the stock has traded as high as $5.35 as recently as
February 4, 2011. Moreover, Vertro’s President and CEO is expected
to remain in his positions at the combined company after the
proposed transaction is consummated.
If you own common stock in Vertro 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://www.zlk.com.
Levi & Korsinsky is a national firm with offices in New
York, California and Washington D.C. The firm has extensive
expertise in prosecuting investor securities litigation involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. 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 litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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