Rigrodsky & Long, P.A. Investigates Sale of Global Traffic Network, Inc. to GTCR, LLC for Shareholders

  • Do you own Global Traffic Network, Inc. common stock?
  • Did you purchase your shares prior to August 3, 2011?
  • Do you feel the Company's sale to GTCR, LLC is unfair?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

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R & L is a national law firm with decades of combined legal experience. R & L is investigating potential claims against the board of directors of Global Traffic Network, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by an affiliate of GTCR, LLC in a transaction with an approximate value of $267 million.

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Rigrodsky & Long, P.A. Investigates Sale of Global Traffic Network, Inc. to GTCR, LLC for Shareholders

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Global Traffic Network, Inc. (“Global Traffic” or the “Company”) (Nasdaq: GNET) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by an affiliate of GTCR, LLC (“GTCR”) in a transaction with an approximate value of $267 million.

Under the proposed agreement, GTCR will commence a tender offer for all of the outstanding shares of Global Traffic for $14.00 per share in cash.

The investigation concerns whether Global Traffic’s board of directors adequately shopped the Company to obtain the best price possible for Global Traffic’s shareholders before entering into the agreement with GTCR.  Indeed, according to Yahoo! Finance, at least one analyst has set a $16.00 per share target for Global Traffic stock.

Moreover, as recent as May 13, 2011, Global Traffic issued a press release wherein the Company announced its fiscal third quarter 2011 financial results.  William L. Yde III, Chairman, CEO and President of Global Traffic, commented on Global Traffic’s well placed position for future growth: “We anticipate solid growth this quarter and a strong finish to the fiscal year.  Our Company continues to generate strong free cash flow and maintain a rock solid balance sheet which has no debt and almost $2.00 per share in cash.  We continue to be well positioned in the advertising market place, with no significant direct competitors, an extremely effective product and a seasoned, experienced sales staff.”

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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