NEW YORK, Aug. 5, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of On2 Technologies, Inc., Inc. ("On2 Technologies" or the "Company") (AMEX:ONT) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Google Inc. ("Google") (Nasdaq:GOOG). Under the terms of the agreement, On2 Technologies shareholders will receive $0.60 of Google stock for each share of On2 Technologies they own. The transaction appears unfair given that On2 Technologies stock traded at $0.65 per share as recently as May 13, 2009.
The companies expect to consummate the transaction in the fourth quarter of 2009 subject to customary closing conditions, including all necessary regulatory and stockholder approvals.
If you own common stock in On2 Technologies and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/ont1.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.