$KITD Looks like the former CEO may have hired a law firm to investigate the BOD and the massive PPS drop.

Just speculation on my part but read this news article.

Faruqi & Faruqi, LLP Is Investigating KIT Digital, Inc. for Potential Breaches of Fiduciary Duties by Its Board of Directors (KITD)

NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of KIT Digital, Inc. ("KITD" or the "Company") (NASDAQ: KITD ) for potential breaches of fiduciary duties in connection with their conduct related to the proposed buyout of the Company by its largest shareholder and former chair and CEO, Kaleil Isaza Tuzman, in an all-cash deal valued at approximately $198 million. Under the terms of the proposed transaction, KITD's  stockholders will receive $3.75 in cash for each share of KITD's common stock they own.

Request more information now by clicking here:  www.faruqilaw.com/KITD .There is no cost or obligation to you.

This investigation is focused on whether KITD's Board of Directors is acting in accordance with their fiduciary duties to KITD's stockholders to conduct an adequate and fair sales process to sell the Company, whether KITD's Board of Directors is adequately negotiating a price increase for the proposed  transaction , and by how much this proposed transaction undervalues the Company to the detriment of KITD's shareholders.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.

If you own common stock in KITD and wish to obtain additional information and protect your  investments free of charge, please visit us at  www.faruqilaw.com/KITD or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at  (877) 247-4292 or  (212) 983-9330 .

Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.

Source: Faruqi & Faruqi, LLP

http://www.nasdaq.com/article/faruqi--faruqi-...Lgfu6xX0Yk