SAN DIEGO, April 29, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of TiVo Inc. (NASDAQ: TIVO) breached
their fiduciary duties in connection with the proposed sale of the
Company to Rovi Corporation (NASDAQ: ROVI).
Additional Information:
TiVo provides video technology software services and cloud-based
software-as-a-service solutions that enable viewers to consume
content across various screens in and out-of-the home in
United States, Europe and internationally.
On April 29, 2016, TiVo announced
it had signed a definitive merger agreement with Rovi. Under the
terms of the transaction, Rovi will acquire TiVo for $10.70 per share in cash and stock. Rovi
will pay $2.75 per share in cash
subject to a collar mechanism. The stock consideration is subject
to a two-way collar between average Rovi Stock Prices of
$16.00 and $25.00.
The investigation concerns whether the TiVo board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for TiVo shares
of common stock. Nationally recognized Johnson & Weaver is
investigating whether the proposed deal price represents adequate
consideration, especially given one Wall Street analyst has an
$18.00 price target on the
stock.
If you are a shareholder of TiVo and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If emailing, please
include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
Logo - http://photos.prnewswire.com/prnh/20160211/332409LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/tivo-tivo-alert-johnson--weaver-llp-launches-an-investigation-into-the-fairness-of-price-and-process-in-proposed-sale-of-tivo-inc-are-tivo-shareholders-getting-a-fair-price-300260062.html
SOURCE Johnson & Weaver, LLP