RENTRAK ALERT - National Securities Law Firm Seeks Higher Price for Rentrak Corp. Shareholders, and Encourages Shareholders to Contact Law Firm for More Information
NEW YORK, Sept. 30, 2015 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the sale of Rentrak Corporation (NASDAQ: RENT) ("Rentrak" or the "Company") on behalf of its shareholders. comScore, Inc. and Rentrak announced that the companies have entered into a definitive merger agreement under which the companies will combine in a stock-for-stock merger. Pursuant to the terms of the merger, each share of Rentrak will be converted into the right to receive 1.15 shares of comScore, implying the deal could be worth as much as $51.75 a share to stockholders of Rentrak. Upon completion of the merger, comScore shareholders are expected to own approximately 66.5% and Rentrak shareholders are expected to own approximately 33.5% of the combined company on a fully diluted basis.
Our investigation seeks to determine whether Rentrak management engaged in a full and fair auction and process to insure that its shareholders obtained the maximum price possible for their shares. Indeed, an analyst has projected that the true going forward inherent value of Rentrak stock is worth at least $100 per share (with a median target of analysts of over $73 per share), the stock traded as high as $87.40 per share this past year, and the company has no long term debt and significant cash on hand on its balance sheet. The investigation further seeks to determine whether the senior management of Rentrak are entering into this deal for their own self-interests to the detriment of the Company's shareholders.
If you are a shareholder of Rentrak and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us at no cost at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: [email protected]
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the "50 Elite Trial Lawyer Firms" and one of the "50 Leading Plaintiff Firms in America." Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC
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