INX, Inc. Merger Litigation (Nasdaq: INXI)
Law Office of Brodsky & Smith, LLC Announces Investigation of INX, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of INX, Inc. (“INX” or the “Company”) (Nasdaq - INXI- News) relating to the proposed acquisition by Presidio, Inc. (“Presidio”).
Under the terms of the transaction INX shareholders would receive $8.75 in cash for each share of INX stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of INX for not acting in the INX shareholders' best interests in connection with the sale process to Presidio. The transaction may undervalue INX as a result of failing to adequately shop the Company. The transaction is taking place after second quarter results were better than expectations and represents only a slight premium over the $8.43 that INX stock traded at on August 3, 2011.
If you own shares of INX stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, or by calling toll free 877-LEGAL-90.
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