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: