Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Kit Digital, Inc. (“Kit”) (NasdaqGS: KITD) related to a going private proposal from its former chairman and CEO Kaleil Tuzman. Under the terms of the proposal, Mr. Tuzman would acquire all outstanding share of Kit’s common stock for $3.75 per share, well below at least one analyst’s estimated value of $13.00 per share and the 52-week high of $12.65.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
According to shareholder rights attorney Patrick Powers, “the investigation relates to the fairness of the proposed transaction to Kit shareholders and whether the Board of Directors is adequately shopping the company in order to obtain the best possible price for the shareholders. In addition, the firms are actively investigating possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Kit in connection with the potential approval of this transaction, and whether Kit’s Board of Directors is acting in the shareholders’ best interests.”
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.