The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Renaissance Learning, Inc. in Connection with the Sale of the Company to Permira Funds

NEW YORK, Oct. 5, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Renaissance Learning, Inc. ("Renaissance Learning" or the "Company") (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.  Under the terms of the transaction, the co-founders of the Company, who control 60 percent of Renaissance Learning shares, will receive $15 per share while the remaining shareholders will receive $16.60 per share.

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

On September 27, 2011 the Company received a buyout offer from Plato Learning Inc. under which the co-founders would receive $15.10 per share and the others shareholders $18 per share. The Company's co-founders and the Board rejected the Plato Learning offer. 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.  

If you own common stock in Renaissance Learning and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] 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.

CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free:  (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE Levi & Korsinsky, LLP