Tripp Levy PLLC Announces Investigation of Renaissance Learning
August 16 2011 - 8:45AM
Business Wire
Tripp Levy PLLC, a leading national securities law firm,
announces an investigation into the proposed acquisition of
Renaissance Learning, Inc. (NASDAQ: RLRN) by the Permira Funds.
Under the terms of the transaction, Renaissance shareholders will
receive $14.85 per share.
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
Company's outstanding shares, in favor of the transaction.
The investigation concerns, among other things, whether the
consideration to be paid to Renaissance shareholders is unfair,
inadequate, and substantially below the fair or inherent value of
Renaissance. Indeed, analysts have projected that the true inherent
value of the company is approx. $16 per share. The investigation
further concerns whether the board of directors of Renaissance may
have breached their fiduciary duties by not acting in Renaissance
shareholders' best interests in connection with the sale process of
Renaissance.
If you own Renaissance common stock and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact
Tripp Levy Tripp Levy PLLC 125 East 82nd Street 9th Floor New York,
New York Toll Free: 877-772-3975
Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in
mergers & acquisitions, takeover litigation, shareholder
rights, and corporate governance matters in state and federal
courts throughout the United States. Attorney advertising. Prior
results do not guarantee a similar outcome.
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