Harwood Feffer LLP Announces Investigation of Renaissance Learning, Inc.
August 16 2011 - 3:38PM
Business Wire
Harwood Feffer LLP (www.hfesq.com)
is investigating potential claims against the board of directors of
Renaissance Learning, Inc. (“Renaissance” or the “Company”)
(NASDAQ: RLRN) concerning its proposed acquisition by a company
created by Pemira Funds (“Pemira”) in a transaction valued at
approximately $440 million. The transaction is expected to close
within the next six months.
Under the proposed transaction, Renaissance shareholders will
receive $14.85 per share in cash for each Renaissance share
owned.
Harwood Feffer’s investigation concerns whether the board of
directors has undertaken a fair process to obtain fair
consideration for all shareholders of Renaissance, particularly in
light of Renaissance’s recent performance. Renaissance recently
released its Form 10-Q for the second quarter of 2011, a
traditionally slower quarter according to Renaissance, but it
showed increased revenues and sales for the same period in 2010.
Renaissance share price has risen from $10.40 on June 10, 2011 to
$13.52 on August 3, 2011. At least one analyst has set a target
price for the Company’s stock at $16.00.
If you own shares of Renaissance and would like to learn more
about these claims or if you wish to discuss this matter and have
any questions or information concerning this announcement, please
contact Robert I. Harwood, Esq. at rharwood@hfesq.com or James G.
Flynn, Esq. at jflynn@hfesq.com. You may also call them at (877)
935-7400. For more information about class actions, or to sign up
online, please visit our website: www.hfesq.com.
Harwood Feffer LLP is a national shareholder litigation firm.
Harwood Feffer LLP is devoted to protecting the interests of
individual and institutional investors in shareholder actions in
state and federal courts nationwide.
Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm
responsible for this advertisement is Harwood Feffer LLP
(www.hfesq.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter.
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