Faruqi & Faruqi, LLP Announces Investigation of INX, Inc. (INXI)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of INX, Inc. (“INXI” or the “Company”) (NASDAQ: INXI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Presidio in an all-cash deal valued at about $83 million. Under the terms of the proposed transaction, INXI stockholders will receive $8.75 in cash for each share of INXI common stock they own.
Whether INXI’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues INXI’s shares and by how much this proposed transaction undervalues the Company to the detriment of INXI’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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