The Law Offices of Vincent Wong Announce an Investigation of Renaissance Learning, Inc.
17 August 2011 - 7:23AM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Renaissance Learning, Inc. (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. Under the terms of the proposed
deal, Renaissance Learning shareholders will receive $14.85 per
share in cash for a total transaction value of approximately $440
million. Shareholders representing 69% of the Company’s outstanding
shares have agreed to vote in favor of the transaction.
To get more information and join the action, click here:
http://www.wongesq.com/renaissance-learning.html.
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. According to
Thomson/First Call, 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 Vincent Wong, Esq.
either via email vw@wongesq.com, by telephone at 212.584.2740, or
visit http://www.wongesq.com/renaissance-learning.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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