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The Law Firm of Levi & Korsinsky, LLP Announces Investigation of Renaissance Learning, Inc.

^{Published on 2011-08-16 09:06:23 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Renaissance Learning, Inc. (aRenaissance Learninga or the aCompanya) (NASDAQ: RLRN) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to a company formed at the direction of the Permira Funds. Renaissance Learning shareholders will receive $14.85 per share of Renaissance Learning stock they own. The transaction has a total approximate value of $440 million. Shareholders representing 69% of the Companya™s outstanding shares have agreed to vote in favor of the transaction.

Click here to learn how to join the action: [ http://www.zlk.com/renaissance-learning-rlrn ], or call: 877-363-5972.

The investigation concerns whether the Renaissance Learning Board of Directors breached their fiduciary duties to Renaissance Learning stockholders by failing to adequately shop the Company before entering into this transaction and whether Permira Funds is underpaying for Renaissance Learning shares, thus unlawfully harming Renaissance Learning stockholders. In particular, at least one analyst set a price target of $16.00 per Renaissance Learning shares.

If you own common stock in Renaissance Learning and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or [ http://www.zlk.com ].

Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.