Global Traffic Network, Inc.

Robbins Umeda LLP Announces an Investigation of Global Traffic Network, Inc.

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 Global Traffic Network, Inc. (NASDAQ: GNET) in connection with their efforts to sell the company to an affiliate of GTCR, LLC, a leading private equity firm.  

On August 3, 2011, Global Traffic Network announced that it had entered into a definitive merger agreement under which GTCR affiliates will acquire all outstanding shares of the company through a cash tender offer that is expected to commence shortly.  The tender will be followed by a merger in which each share of common stock not acquired in the tender offer will be converted to the right to receive $14.00 per share in cash.  The transaction is expected to be completed in the fourth quarter of 2011. 

Robbins Umeda LLP’s investigation focuses on whether Global Traffic Network’s board is undertaking a fair process to obtain maximum value and adequately compensate shareholders.  At least two analysts have released target prices for Global Traffic Network that value the company’s stock at $15.25 and $16.00 per share, both higher than the price being offered by GTCR affiliates as part of the merger agreement.  

If you own stock in Global Traffic Network and would like more information about your shareholder rights, please complete the form below and we will contact you directly.  We also welcome you to call us at 800-350-6003.

 

Shareholder Information

Items marked with an asterisk (*) are required information.

First Name * Last Name *
Address City State/Province *
ZIP/Postal Code Country/Region Phone *
E-mail * Confirm: E-mail *

Shares Purchased:
Number of Shares: Buy Date : Price Per Share:
example: 125 example: MM/DD/YYYY example: 30.00
transaction:
transaction:
transaction:
transaction:
transaction:
If you have additional transactions or comments, please input the information below:

Shares Sold:
Number of Shares: Buy Date : Price Per Share:
example: 125 example: MM/DD/YYYY example: 30.00
transaction:
transaction:
transaction:
transaction:
transaction:
If you have additional transactions or comments, please input the information below:

Please Note: Neither the submission to nor the receipt of information by Robbins Umeda LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

* I have read the disclaimer information

    Send This Post

    Tags: