Investor Alert - Buyout Of Innotrac - Shareholder Rights Law Firm Seeks Higher
Price For Innotrac Shareholders
NEW YORK, Nov. 15, 2013
NEW YORK, Nov. 15, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading securities
and shareholder rights law firm that represents shareholders nationwide,
announces that it is investigating the acquisition Innotrac Corporation
(NASDAQ: INOC) ("Innotrac" or the "Company") on behalf of shareholders. It
was announced that an affiliate of Sterling Partners has entered into a
definitive merger agreement to acquire all of the outstanding shares of
Innotrac of $8.20 per share in cash.
The investigation concerns whether the senior management and board of
directors of Innotrac breached their fiduciary duties to shareholders by not
engaging in a full and fair process to insure shareholders received the
maximum value for their shares, while, at the same time, seeking to benefit
themselves for their own self-interests. Indeed, Scott Dorfman, Innotrac's
CEO, Chairman and largest shareholder, and other members of the Company's
management will continue their leadership of the Company and will retain a
significant equity position in the Company. Mr. Dorfman has also agreed to
contribute all of his shares, representing 44% of the Company's outstanding
stock to Sterling.
If you are a shareholder of Innotrac and would like additional information
regarding this matter, at no cost or expense, please contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 1-877-772-3975
Tripp Levy PLLC is a leading securities and shareholder rights law firm that
has extensive experience in mergers and takeovers, and has assisted in the
recovery of millions of dollars for shareholders around the globe. Attorney
advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC
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