Faruqi & Faruqi, LLP Announces Investigation of Renaissance Learning, Inc.
August 16 2011 - 2:17PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Renaissance Learning, Inc. (“Renaissance” or the
“Company”) (NASDAQ: RLRN) for potential breaches of fiduciary
duties in connection with their conduct related to the sale of the
Company to Permira Funds, a European private equity firm, in an
all-cash deal valued at about $440 million. Under the terms of the
proposed transaction, Renaissance will become a privately held
company and its stockholders will receive $14.85 in cash per each
share of Renaissance they own, while, according to Yahoo! Finance,
at least one financial analyst has set a price target of $16 for
Renaissance. The transaction is expected to close in the fourth
quarter of 2011.
Request more information now by clicking here:
www.faruqilaw.com/RLRN
Whether Renaissance’s Board of Directors breached their
fiduciary duties to the Company’s stockholders by failing to
conduct an adequate and fair sales process prior to agreeing to
this transaction, whether the proposed transaction undervalues
Renaissance’s shares and by how much this transaction undervalues
the Company to the detriment of Renaissance’s shareholders are the
key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, through all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Renaissance and wish to obtain
additional information, please visit us at www.faruqilaw.com/RLRN
or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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