Rigrodsky & Long, P.A. Announces Investigation of Archipelago Learning, Inc. Takeover
03 April 2012 - 3:04AM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of Archipelago
Learning, Inc. (“Archipelago” or the “Company”) (NASDAQ GS: ARCL)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s entry into an agreement to be
acquired by PLATO Learning, Inc. (“Plato Learning”) in an all-cash
deal valued at about $291 million. Click here to learn more and to
discuss your shareholder rights:
http://www.rigrodskylong.com/investigations/archipelago-learning-inc-arcl
Under the terms of the proposed transaction, Plato Learning will
purchase shares of Archipelago at a price of $11.10 in cash. The
date for the special shareholder meeting to approve the merger has
not yet been set.
The investigation concerns whether Archipelago’s board of
directors adequately shopped the Company to obtain the best price
possible for the Company’s shareholders before entering into the
merger agreement with Plato Learning.
If you own the common stock of Archipelago and purchased your
shares before March 5, 2012, if you have information or would like
to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Scott J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East
Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at
(888) 969-4242, by e-mail to info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/archipelago-learning-inc-arcl.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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