Kendall Law Group Investigates Renaissance Learning, Inc.
17 August 2011 - 12:33AM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Renaissance Learning, Inc. (NASDAQ: RLRN) for
shareholders in connection with the proposed acquisition by an
affiliate of Permira Funds. The national securities firm’s
investigation seeks to determine whether Renaissance Learning and
its Board breached their fiduciary duties by entering into the
agreement without properly shopping for a deal that would provide
better value for shareholders. If you are a Renaissance Learning
shareholder and would like additional information about your
rights, contact the Kendall Law Group at 877-744-3728 or by email
at investor@kendalllawgroup.com.
On August 16, 2011, the companies announced the definitive
merger agreement under which Renaissance Learning would be acquired
by Permira Funds, in a transaction valued at approximately $440
million. Under the terms of the agreement, Renaissance Learning
stockholders will receive $14.85 in cash for each share of
Renaissance Learning/RLRN common stock held. According to
Thompson/First Call, analysts have set a price target as high as
$16.00 per share for Renaissance Learning’s stock. The firm’s
investigation seeks to determine whether Renaissance Learning and
its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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