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The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Vertro, Inc.

^{Published on 2011-10-19 15:13:14 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the sale of Vertro, Inc. (aVertroa or aVTROa) (NASDAQ: VTRO) to Inuvo, Inc. for shareholders. Under the proposed stock-for-stock transaction, Vertro shareholders will receive only 1.546 shares of Inuvo common stock for each share of Vertro/VTRO stock owned. Based on Inuvoa™s closing price the day before the merger announcement, the value to Vertro shareholders is only $2.70 per share, which is well below the recommended price of $3.00 per share announced by analysts and nearly than half of the price at which VTRO shares traded as recently as February 2011.

"We are investigating whether the shareholders are being underpaid for their stock and whether Vertroa™s Board acted in the shareholdersa™ best interest"

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The definitive acquisition agreement involves an all-stock transaction valued at approximately $19.5 million, which is expected to be completed in late 2011 or the first quarter of 2012.

aWe are investigating whether the shareholders are being underpaid for their stock and whether Vertroa™s Board acted in the shareholdersa™ best interest,a said shareholder rights attorney Willie Briscoe. In particular, Vertroa™s stock closed at $5.35 per share as recently as February 4, 2011, and at $6.81 in late November 2010. In addition, at least one analyst has set a recommended target price of $3.00 per share for VTRO stock. aBased on these and other factors, we believe that the transaction may significantly undervalue Vertro stock. Our lawsuit will seek to obtain the highest share price for all shareholders,a said shareholder rights attorney Willie Briscoe.

[ The Briscoe Law Firm, PLLC ] is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.