Rigrodsky & Long, P.A. Announces Investigation of PLATO Learning, Inc.
26 März 2010 - 4:07PM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of PLATO Learning,
Inc. ("PLATO Learning" or the "Company") (Nasdaq: TUTR) concerning
possible breaches of fiduciary duty and other violations of law
related to the Company's entry into an agreement to be acquired by
Thoma Bravo, LLC ("Thoma Bravo") in a transaction valued at
approximately $143 million.
Under the proposed agreement, PLATO Learning shareholders will
receive $5.60 per share for each share of PLATO Learning common
stock they own. The investigation concerns whether PLATO Learning's
board of directors failed to adequately shop the Company and obtain
the best price possible for its shareholders. At least one analyst
has set a price target of $6.00 per share for the Company and as
recently as PLATO Learning's February 25, 2010 first quarter 2010
earnings announcement, PLATO Learning has stated it expects strong
growth in orders and revenues from subscription products of 10% to
20% in 2010 over 2009 levels.
If you own the common stock of PLATO Learning and purchased your
shares before March 25, 2010, if you have information or would like
to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Brian D. Long, Esquire or Noah R. Wortman, Case Development
Director, of Rigrodsky & Long, P.A., 919 N. Market Street,
Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or
by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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