NEW YORK, Oct. 24, 2011 /PRNewswire/ -- 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.
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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 firstname.lastname@example.org 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. CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 15th Floor New York, NY 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP