Bernstein Liebhard LLP Announces Investigation of Global Traffic Network, Inc.
August 3, 2011
Bernstein Liebhard LLP is investigating whether the Board of Directors of Global Traffic Network, Inc. (“Global” or the “Company“) (NASDAQ: GNET) breached its fiduciary duty to its shareholders in agreeing to sell Global to an affiliate of GTCR, LLC.
Under the terms of the agreement, Global shareholders will receive $14.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Global shareholders and the process by which the Global Board of Directors considered and approved the transaction.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List“ in each of the last eight years.