The Law Firm of Levi & Korsinsky, LLP Announces Investigation of Renaissance Learning, Inc.
17 August 2011 - 1:53AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Renaissance Learning, Inc. (“Renaissance Learning” or the
“Company”) (NASDAQ: RLRN) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to a company formed at the direction of the Permira
Funds. Renaissance Learning shareholders will receive $14.85 per
share of Renaissance Learning stock they own. The transaction has a
total approximate value of $440 million. Shareholders representing
69% of the Company’s outstanding shares have agreed to vote in
favor of the transaction.
Click here to learn how to join the action:
http://www.zlk.com/renaissance-learning-rlrn, or call:
877-363-5972.
The investigation concerns whether the Renaissance Learning
Board of Directors breached their fiduciary duties to Renaissance
Learning stockholders by failing to adequately shop the Company
before entering into this transaction and whether Permira Funds is
underpaying for Renaissance Learning shares, thus unlawfully
harming Renaissance Learning stockholders. In particular, at least
one analyst set a price target of $16.00 per Renaissance Learning
shares.
If you own common stock in Renaissance Learning and wish to
obtain additional information, please contact Joseph E. Levi, Esq.
either via email at jlevi@zlk.com or by telephone at (212)
363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in New
York, California and Washington D.C. The firm has extensive
expertise in prosecuting investor securities litigation involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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