Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims against the Board of Directors of Global Traffic
Networks Inc. ("Global Traffic” or the "Company”) (NASDAQ:GNET) related
to the proposed acquisition of the Company by an affiliate of the
private equity firm GTCR, LLC. The transaction is valued at
approximately $266.7 million or $14 per share.
The investigation concerns whether the Board of Directors of Global
Traffic breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into the proposed
transaction, and whether the Company has disclosed all material
information to shareholders about the transaction. The Company has seen
substantial recent growth. Its share price has skyrocketed from $4.80 on
September 23, 2011 to $13.65 on May 3, 2011. Further, at least one
analyst has set a target price for the Company’s stock at $16.00.
If you are a shareholder of Global Traffic, if you have information or
would like to learn more about these claims, or if you wish to discuss
these matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Louis
Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1801 Avenue of the
Stars, Suite 311, Los Angeles, CA 90067, by telephone at (310) 201-9150
or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com.
