An investigation for investors in NASDAQ:TIVO shares was announced 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 mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain TiVo directors breached their fiduciary duties owed to NASDAQ:TIVO investors in connection with the proposed acquisition.
San Jose, TiVo Inc. is a provider of television software services and cloud-based software-as-a-service solutions that enable viewers to consume content from a range of sources, across a variety of screens in and out of the home. 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.
On May 6, 2016, NASDAQ:TIVO shares closed at $9.64 per share.
Those who are current investors in NASDAQ:TIVO shares 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