An investigation on behalf of investors in TiVo Inc. (NASDAQ:TIVO) shares over potential wrongdoing at TiVo Inc. was announced and NASDAQ:TIVO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/26/2016 -- An investigation was announced for investors in shares of TiVo Inc. (NASDAQ:TIVO) was announced over potential breaches of fiduciary duties by certain directors at TiVo Inc in connection with the takeover of TiVo by Rovi.
Investors who purchased shares of TiVo Inc. (NASDAQ:TIVO) shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain TiVo Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders. More specifically, the investigation concerns whether certain information about the takeover by Rovi were hidden by certain directors.
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, the investigation focuses on why two of the directors of Tivo voted against the acquisition.
On July 11, 2016, Rovi Corporation and TiVo Inc. (NASDAQ:TIVO) announced that the Federal Trade Commission and the Antitrust Division of the Department of Justice granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act relating to the proposed acquisition of TiVo by Rovi.
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 July 25, 2016, NASDAQ:TIVO shares closed at $10.52 per share.
Those who purchased shares of TiVo Inc. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com