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FNET Fortunet (MM)

2.23
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Fortunet (MM) NASDAQ:FNET NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.23 0 01:00:00

Finkelstein Thompson LLP Announces Investigation of FortuNet, Inc.

10/12/2009 4:42pm

Business Wire


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Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of FortuNet, Inc. (“FortuNet” or the “Company”) (NasdaqGM: FNET) arising from its majority shareholder, Yuri Itkis Gaming Trust of 1993 (“Trust”), announcing that it intends to commence a tender offer for all outstanding shares of the Company’s common stock not already owned by the Trust. The Trust is offering $1.70 per share.

The investigation is focused on the potential unfairness of the offer price to FortuNet shareholders and the process by which the FortuNet Board of Directors is addressing the tender offer. The Company’s shares traded as high as $3.90 as recently as September 15, 2009 and at least one analyst has set a $6.00 target price for the Company’s shares.

If you are interested in discussing your rights as a FortuNet shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, D.C. offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.

Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers. To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com. Attorney advertising. Prior results do not guarantee similar outcomes.

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