Law Firm Brower Piven Announces Investigation in Connection With the Acquisition of Archipelago Learning, Inc. by Plato Learn...
06 Março 2012 - 4:11PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of Archipelago Learning, Inc.
(“Archipelago”) (NASDAQ: ARCL) and other violations of state law by
the board of directors of Archipelago relating to the proposed
acquisition of the company by Plato Learning, Inc. (“Plato”). The
firm’s investigation seeks to determine, among other things,
whether the board breached its fiduciary duties by failing to
maximize shareholder value.
On March 6, 2012, Archipelago announced that it had entered into
a definitive agreement providing for Plato to acquire Archipelago
for $291 million. Under the terms of the merger agreement,
Archipelago shareholders will receive $11.10 for each share of
Archipelago common stock held. However, according to Yahoo!
Finance, at least one analyst has set a high price target of $12.00
per share.
If you currently own shares of Archipelago and would like to
learn more about the investigation being conducted by Brower Piven,
you may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling (410)
415-6616, or at Brower Piven, A Professional Corporation, 1925 Old
Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven
have combined experience litigating securities and other class
action cases of over 60 years.
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