An investigation on behalf of investors in NASDAQ:TIVO shares in connection with the proposed takeover of TiVo Inc was announced and NASDAQ:TIVO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/05/2016 -- The takeover of TiVo Inc is under investigation over potential wrongdoing. The investigation was announced on behalf of investors in NASDAQ:TIVO shares concerning whether the takeover of TiVo Inc. by Rovi Corporation for $10.70 per share is unfair.
Investors who purchased shares of TiVo Inc. (NASDAQ:TIVO) and currently hold any of those NASDAQ:TIVO shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of TiVo Inc. breached their fiduciary duties owed to NASDAQ:TIVO investors in connection with the proposed acquisition.
On March 24, 2016, it was reported that TiVo is in "advanced negotiations" to be bought out by Rovi (NASDAQ: ROVI). Then on April 29, 2016, Rovi Corporation (NASDAQ: ROVI) and TiVo Inc. (NASDAQ: TIVO announced that Rovi will acquire TiVo for $10.70 per share in cash and stock for total consideration of approximately $1.1 billion.
However, given that shares of TiVo Inc. (NASDAQ:TIVO) reached as high as $14.09 per share in August 2014 and that at least one analyst has set the high target price for NASDAQ:TIVO shares at $18.00 per share, the investigation a law firm concerns whether the TiVo board of directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
TiVo Inc. reported that its Total Revenue rose from $303.91 million for the 12 months period that ended on January 31, 2013 to $489.61 million for the 12 months period that ended on January 31, 2016.
On May 4, 2016, NASDAQ:TIVO shares closed at $9.67 per share.
Those who are current investors in TiVo Inc. shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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