Berman DeValerio Investigates Possible Breaches of Fiduciary Duty at RealD, Inc.
November 13 2015 - 8:00AM
Business Wire
The law firm of Berman DeValerio is investigating possible
breaches of fiduciary duties related to the proposed sale of RealD
Inc. (NYSE: RLD) (“RealD” or the “Company”) to Rizvi Traverse
Management (“Rizvi”). In particular, Berman DeValerio
(www.bermandevalerio.com) is investigating whether RealD’s Board of
Directors conducted an adequate and fair sales process to obtain
maximum value for the Company’s shareholders before approving the
proposed transaction, and whether Rizvi is underpaying for RealD
shares.
Under the terms of the proposed transaction, RealD shareholders
will receive only $11.00 in cash for each share of RealD common
stock held. A little more than a year ago, Starboard Value LP
(“Starboard”) made an unsolicited offer to purchase RealD for $12
per share, which was rejected by the company's management. Recent
reports indicate that Starboard was on the verge of nominating a
slate of dissident directors to RealD's Board.
Berman DeValerio is concerned about the process in which RealD's
Board of Directors agreed to this transaction, which may have been
driven more by concerns of a hostile takeover by Starboard and
displacement of management than a desire to maximize shareholder
value. Three of four analysts covering the Company have target
prices for RealD shares above the offer price, with one analyst
having a target price of $16 per share.
If you currently hold shares of RealD and would like more
information regarding this matter, or if you wish to share
information about the matter, you may contact attorneys Mark A.
Delaney or Nathaniel Orenstein by phone at 617.542.8300 or by email
at mdelaney@bermandevalerio.com and
norenstein@bermandevalerio.com.
Berman DeValerio is a national law firm representing plaintiffs
in lawsuits against corporate wrongdoers, chiefly for violations of
securities and antitrust laws. The firm has 38 lawyers in Boston,
San Francisco and Palm Beach Gardens, Florida.
This notice may constitute attorney advertising.
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version on businesswire.com: http://www.businesswire.com/news/home/20151113005049/en/
Berman DeValerioMark A. Delaney,
617-542-8300mdelaney@bermandevalerio.com.
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