NEW YORK, Sept. 30, 2015 /PRNewswire/ -- WeissLaw LLP, a
national class action, shareholder rights law firm is investigating
the fairness of the proposed acquisition of Rentrak Corporation
("RENT" or the "Company") by comScore, Inc. The investigation is
focusing on possible breaches of fiduciary duty and other
violations of law by the Board of Directors of RENT stemming from
the September 29, 2015 announcement that the RENT Board
of Directors approved a definitive agreement for comScore to
acquire the Company. Under the terms of the agreement, RENT
shareholders will receive 1.15 shares of comScore for each RENT
share they own; representing a total value of $47.69 per RENT share based on comScore's
September 29, 2015 closing
price.
WeissLaw is investigating whether RENT's Board acted to maximize
shareholder value prior to entering into the agreement. Notably, at
least one analyst set a target price of $100.00 per share, or approximately $53.00 above the offer price. Additionally,
RENT shares traded at $71.89 as
recently as August 4, 2015. Further,
RENT recently announced positive financial results for the first
quarter of fiscal 2016. It reported revenues of $27.5 million, representing a 25% increase on a
constant currency basis year-over-year. Upon completion of the
transaction, RENT shareholders will own a mere 33.5% of the newly
combined company.
Given these facts, WeissLaw is investigating the Board's
decision to sell RENT and whether RENT's shareholders will obtain
their fair and proportionate share of the Company's continued
success and future growth prospects. If you own RENT shares and
would like more information about your rights or our investigation,
or if you have information to share with us, please contact
Joshua Rubin by telephone at (888)
593-4771 or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal advice
concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out the form on our
website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP