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FNET Fortunet (MM)

2.23
0.00 (0.00%)
24 May 2024 - Closed
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

Levi & Korsinsky, LLP Investigates Tender Offer by Majority Shareholder of FortuNet, Inc.- FNET

30/11/2009 6:19pm

Business Wire


Fortunet (NASDAQ:FNET)
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Levi & Korsinsky is investigating potential claims on behalf of the shareholders of FortuNet, Inc. (“FortuNet” or the “Company”) (NasdaqGM: FNET) arising out of the announcement that the Yuri Itkis Gaming Trust of 1993 ("Trust") intends to commence a tender offer for all of the outstanding shares of common stock of the Company not already owned by the Trust at an offer price of $1.70 per share in cash. Yuri Itkis, the chairman and chief executive officer of the Company, is the sole trustee and beneficiary of the Trust that owns approximately 75% of the outstanding shares of the Company. The investigation concerns whether the $1.70 offer is fair given that the Company's shares traded as high as $3.90 as recently as September 15, 2009 and at least one analyst has a set a $6.00 price target for FortuNet shares.

If you own common stock in FortuNet and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/fnet1.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.

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