SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

September 07, 2011 17:07 ET

The Law Firm of Levi & Korsinsky, LLP Notifies Shareholders of Claims of Breaches of Fiduciary Duty by the Board of Global Traffic Network, Inc. in Connection With the Sale of Company to GTCR, LLC

NEW YORK, NY--(Marketwire - Sep 7, 2011) - Levi & Korsinsky notifies shareholders of Global Traffic Network, Inc. ("Global" or the "Company") (NASDAQ: GNET) of claims of breaches of fiduciary duty and other violations of state law against the Board of Directors of the Company in connection with the sale of the Company to an affiliate of GTCR, LLC. Under the terms of the transaction, Global stockholders will receive $14.00 in cash for each share of Global stock they own for a total transaction value of approximately $267 million. A complaint was filed in New York state court.

Click here to learn how to join the action: http://zlk.9nl.com/GNET, or call: 877-363-5972.

The claim concerns whether the Global Board of Directors breached their fiduciary duties to Global stockholders by failing to adequately shop the Company before entering into this transaction and whether GTCR, Inc. is underpaying for Global shares, thus unlawfully harming Global stockholders. In particular, at least one analyst set a price target of $16.00 per Global share.

If you own common stock in Global 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/global-traffic-gnet.html.

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.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com