DALLAS--(BUSINESS WIRE)--Kendall Law Group, led by former federal judge Joe Kendall, is investigating Renaissance Learning, Inc. (NASDAQ: RLRN) for shareholders in connection with the proposed acquisition by an affiliate of Permira Funds. The national securities firm’s investigation seeks to determine whether Renaissance Learning and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Renaissance Learning shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at investor@kendalllawgroup.com.
On August 16, 2011, the companies announced the definitive merger agreement under which Renaissance Learning would be acquired by Permira Funds, in a transaction valued at approximately $440 million. Under the terms of the agreement, Renaissance Learning stockholders will receive $14.85 in cash for each share of Renaissance Learning/RLRN common stock held. According to Thompson/First Call, analysts have set a price target as high as $16.00 per share for Renaissance Learning’s stock. The firm’s investigation seeks to determine whether Renaissance Learning and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.