Law Office of Brodsky & Smith, LLC Announces Investigation of Renaissance Learning, Inc.
August 17 2011 - 5:54PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Renaissance Learning, Inc. (“Renaissance” or the “Company”)
(Nasdaq: RLRN) relating to the proposed acquisition by an affiliate
of Permira Funds (“Permira”).
Under the terms of the offer, Renaissance shareholders would
receive $14.85 in cash for each share of Renaissance common stock
they own. The investigation concerns possible breaches of fiduciary
duty and other violations of state law by the Board of Directors of
Renaissance for not acting in Renaissance shareholders' best
interests in connection with the sale process to Permira. For
example, Renaissance stock traded at $16.38 per share on June 25,
2010 and at least one analyst has set a $16.00 price target for
Renaissance stock.
If you own shares of Renaissance and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/323-rlrn-renaissance-learning-inc.html, or
by calling toll free 877-LEGAL-90.
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