BALA CYNWYD, Pa.--(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.