WAYNE, Pa.--(BUSINESS WIRE)--Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/rlrn) is investigating potential claims against the board of directors of Renaissance Learning, Inc. ("Renaissance Learning" or the "Company") (NASDAQ: RLRN) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell Renaissance Learning to Permira Funds in a transaction valued at approximately $440 million.
Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Renaissance Learning. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/rlrn.
Under the terms of the definitive agreement, Renaissance Learning shareholders will receive $14.85 per share in cash for every share of Renaissance Learning common stock they hold. In addition, Company co-founders Terrance and Judith Paul, together with affiliates and members of their family, have agreed to vote the shares they control representing, in the aggregate, approximately 69% of the Renaissance Learning’s outstanding shares, in favor of the transaction.
If you own shares of Renaissance Learning and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/rlrn. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.