Ryan & Maniskas, LLP Announces Investigation of Renaissance Learning, Inc.
17 August 2011 - 3:51AM
Business Wire
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/rlrn) is
investigating potential claims against the board of directors of
Renaissance Learning, Inc. ("Renaissance Learning" or the
"Company") (NASDAQ: RLRN) concerning possible breaches of fiduciary
duty and other violations of law related to the Company’s efforts
to sell Renaissance Learning to Permira Funds in a transaction
valued at approximately $440 million.
Our investigation concerns possible breaches of fiduciary duty
and other violations of law related to the approval of the
transaction by Company’s board of directors; in particular, whether
the Company undertook a fair process to obtain fair consideration
for all shareholders of Renaissance Learning. For more information
regarding our investigation, please contact Ryan & Maniskas,
LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or
by email at rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/rlrn.
Under the terms of the definitive agreement, Renaissance
Learning shareholders will receive $14.85 per share in cash for
every share of Renaissance Learning common stock they hold. In
addition, Company co-founders Terrance and Judith Paul, together
with affiliates and members of their family, have agreed to vote
the shares they control representing, in the aggregate,
approximately 69% of the Renaissance Learning’s outstanding shares,
in favor of the transaction.
If you own shares of Renaissance Learning and would like to
learn more about these claims or if you wish to discuss these
matters and have any questions concerning this announcement or your
rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/rlrn. You may also email Mr. Maniskas at
rmaniskas@rmclasslaw.com. For more information about class action
cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
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