-
If you are a current investor in Archipelago Learning, Inc. (NASDAQ:ARCL) shares and purchased your NASDAQ:ARCL shares prior to March 5, 2012, you have certain options and you should contact the Shareholders Foundation, Inc.
-
To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
San Diego, March 06, 2012 (Shareholders Foundation) -- The announcement by Archipelago Learning, Inc. (NASDAQ:ARCL) that agreed to by acquired by PLATO Learning for $11.10 per NASDAQ:ARCL caused an investigation for investors in Archipelago Learning, Inc. (NASDAQ:ARCL) shares concerning whether the offer to acquire Archipelago Learning, Inc. and the buyout process are unfair to investors in NASDAQ:ARCL shares.
The investigations by law firms concern whether Archipelago Learning, certain officers and directors, and/or others breached their fiduciary duties owed to Archipelago Learning, Inc. (NASDAQ:ARCL) investors in connection with the proposed acquisition.
On Monday, March 5, 2012, Archipelago Learning (NASDAQ: ARCL), announced that it has entered into an agreement under which PLATO Learning, a portfolio company of Thoma Bravo, LLC, will acquire Archipelago Learning for $11.10 per share in cash, representing an equity value of approximately $291 million. Archipelago Learning (NASDAQ: ARCL) said that the offer represents a premium of 23 percent to the closing price of $9.04 on March 2, 2012, and a premium of 17 percent to the company's weighted average trading price for the last twelve months.
However, at least one analyst has set the high target price at $12.00 per share. Furthermore, Archipelago Learnings performance increased lately. It reported that its annual Revenue rose from $18.25million in 2007 to $58.65million in 2010 and its Net Income increased from $2.92million for 07 to $3.29million in 2010. Archipelago Learnings third quarter Revenue rose from $17.05million in 2010 to $18.22million in 2011 and its third quarter Net Income increased from $1.38million in 2010 to $1.99million in 2011.
Therefore the investigation for NASDAQ:ARCL investors concerns whether the Archipelago Learning Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to Archipelago Learning, Inc. (NASDAQ:ARCL) shareholders by failing to adequately shop the Company before entering into this transaction.
