An investigation on behalf of current long term investors in NYSEMKT:IDI shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSEMKT:IDI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/15/2016 -- An investigation on behalf of current long-term investors in shares of IDI, Inc. concerning potential breaches of fiduciary duties by certain directors and officers of IDI, Inc., formerly Tiger Media, Inc., was announced.
Investors who are current long term investors in IDI, Inc. (NYSEMKT:IDI) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSEMKT:IDI stocks follows a lawsuit filed recently against IDI, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSEMKT:IDI stocks, concerns whether certain IDI directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of Florida the plaintiff alleges that the defendants issued allegedly materially false and misleading statements to investors and/or failed to disclose that Chairman Michael Brauser was named as a defendant in multiple civil fraud litigation, that Chairman Michael Brauser was co-owner of a company that filed for bankruptcy and was sued as an adversary in that bankruptcy proceeding, and that IDI's Transunion lawsuit could render IDI's stock worthless. When the true details entered the market, the lawsuit claims that investors suffered damages.
On July 21, 2015, Seeking Alpha published a report on IDI, which asserts among other things that: (i) Chairman Michael Brauser's biography omits bankruptcy, wipeout, and fraud lawsuits; (ii) IDI stock has been temporarily inflated from extensive Yahoo message board stock-pumping scheme; and (iii) IDI's Transunion lawsuit could mean instant $0 for stock as IDI's future is apparently based on IP it doesn't own. On this news, shares of IDI fell sharply during intraday trading on July 21, 2015.
Those who purchased shares of IDI, Inc. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com