WILMINGTON, Del., Sept. 30, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Rentrak Corporation (“Rentrak” or the “Company”) relating to the sale of the Company to ComScore, Inc. (“ComScore”). On September 29, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which ComScore will acquire Rentrak in a merger valued at roughly $827 million. As a result of the merger, Rentrak shareholders are only anticipated to receive a fixed ratio of 1.15 shares of ComScore in exchange for each share of Rentrak.
Andrews & Springer’s investigation focuses on the insufficient consideration that Rentrak shareholders are expected to receive. Following the merger, Rentrak shareholders are expected to be substantially diluted, owning only 33.5% of the combined company. Additionally, the 1.15 fixed exchange ratio restricts the value that Rentrak shareholders are expected to receive by exposing Rentrak shareholders to the volatility of ComScore’s share price. This year alone, ComScore has traded as high as $64.64 per share, as recently as August 17, 2015 and as low as $41.47 on September 29, 2015.
The process leading up to the announcement of the merger also appears to have significant conflicts of interest, thus making the process and consideration unfair. As disclosed by Rentrak, at least four (4) directors from Rentrak are anticipated to be joining the board of directors of the combined company after consummation of the merger.
If you own shares of Rentrak and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/rentrak-class-action-investigation or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.