BUYOUT OF VERAMARK - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Veramark Technologies Inc. Veramark Technologies, Inc. (OTCQB: VERA) (the "Company"), announced that it has entered into a definitive merger agreement with Varsity Acquisition LLC ("Varsity") under which Varsity will acquire all of the outstanding common stock of the Company for $0.98 per share in cash.
The investigation concerns whether Anthony Mazzullo is joining with Varsity in acquiring the remaining shares of the company that he does not already own. In addition, the investigation concerns whether the board engaged in a full and fair auction of the company so that shareholders obtained the maximum value for their shares and not for the benefit of management of VERA.
If you are a shareholder of VERA and would like additional information regarding this matter please contact us at 1-877-772-3975 or email at contact @ tripplevy
yeah, it will provide a nice largesse to the folks who have no out of pocket money on the table, but not much to long standing beleagured shareholders who were swayed by the unfortunate, distorted predictions of the previous clan. They and the present administrators will do well. The long standing shareholders will be left holding the bag, so to speak. I was hoping for a couple of bucks on this stock that was badly ravaged by overly greedy previous CEO and His YES board, who will do nicely also, I presume...Hope Kripm and ace didn't get devastated like me, on this one. Gee, Im being optimistic, and hoping the kids can use the losses for decades to come after I'm pushing up daisies...har!!! the previous guy didn't even pay for the shares that he bot at $4 as the board forgave the loan..wow talk about golf buddies..I think it was a $100k for 25k shares and told him no problem we'll forgive the $100k loan..with a board like that u can't lose...and the retirement package was magnificent, an understatement...they may have even bot golf membership and cart for him..har...john..we paid dearly for that agreement.............how u doin ace..your take Kripm u ok?(u predicted it) I only want to be ensured that my losses on multiple acct's can be carried forward yearly...i don't really care if this goes forward or not. it's insignificant to me..i've been screwed by this co. and bd. numerous times thru distortions and false predictions(remember ole timers the Lucent days) and i don't at least want to lose my yearly cap. loss option..i'm sure the board could care less, as they will get their unsacrificed largesse
I share your pain Isam. I will be joining the share holder's lawsuit if it goes forward. The fact that these guys have been allowed to run this public company as their private cookie jar is an indictment of the stock market and the SEC. Although I could sell at a profit at this point I believe the true value of the company in the hands of a responsible board would be in excess of $ 2.00/share. This sale looks more like an inside deal with promises and rewards to all but the shareholders. Even if the lawsuit does nothing more than to hold some of these shenanigans up to the light of day, it will be worth it.