Glancy Binkow & Goldberg LLP Announces Investigation of Renaissance Learning Inc.
August 16 2011 - 11:15AM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims against the Board of Directors of
Renaissance Learning Inc. (“Renaissance Learning” or the “Company”)
(NASDAQ:RLRN) related to the proposed acquisition of the Company by
a company formed at the direction of the Permira Funds. The
transaction is valued at approximately $440 million or $14.85 per
share.
The investigation concerns whether the Board of Directors of
Renaissance Learning breached their fiduciary duties to
stockholders by failing to adequately shop the Company before
agreeing to enter into the proposed transaction, and whether the
Company has disclosed all material information to shareholders
about the transaction. The Company has seen substantial recent
growth. It’s share price has sky rocketed from $7.98 on August 31,
2010 to $13.56 on July 25, 2011. Further, at least one analyst has
set a target price for the Company’s stock at $16.00.
If you are a shareholder of Renaissance Learning, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Louis Boyarsky, Esquire, Glancy Binkow
& Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los
Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at
(888) 773-9224 or by email to shareholders@glancylaw.com.
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