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The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Renaissance Learning Inc.

  //science-technology.news-articles.net/content/2 .. e-investigation-of-renaissance-learning-inc.html
  Published in Science and Technology on Tuesday, August 16th 2011 at 9:36 GMT by Market Wire
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DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the acquisition of Renaissance Learning Inc. (aRenaissance Learninga or aRLRNa) (NASDAQ: RLRN) by an affiliate of the private equity group Permira Funds. Renaissance Learning recently entered into an acquisition agreement with Permira in which Renaissance Learning will be purchased and Renaissance Learning shareholders will receive $14.85 in cash for each share of Renaissance Learning/RLRN owned.

"Based on these and other factors, we are additionally investigating whether the transaction undervalues the stock, and our anticipated lawsuit will seek to obtain the highest share price for all shareholders"

If you are an affected shareholder, and you want to learn more about the investigation or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction valued at approximately $440 million. The transaction is expected to be completed in the fourth quarter of 2011.

aWe are investigating the fairness of the proposed transaction to Renaissance Learning shareholders, whether the shareholders are being underpaid for their stock, and whether Renaissance Learninga™s Board of Directors acted in the shareholdersa™ best interests,a said shareholder rights attorney Willie Briscoe. In particular, although the acquisition price represents a slight premium over RLRNa™s closing price the day prior to the announcement, as recently as July 25, 2011 Renaissance Learning shares closed at $13.56 per share. Further, at least on analyst has set a target price of $16.00 per share for Renaissance Learning/RLRN stock. aBased on these and other factors, we are additionally investigating whether the transaction undervalues the stock, and our anticipated lawsuit will seek to obtain the highest share price for all shareholders,a said Willie Briscoe.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.

Powers Taylor, LLP is a boutique litigation firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.