NEW YORK, Aug. 10, 2016 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against TiVo Inc. (“TiVo” or the “Company”) (Nasdaq:TIVO) in the United States District Court for the Northern District of California on behalf of current stock holders of TiVo, seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”).
On April 28, 2016, TiVo’s Board of Directors (the “Board”) caused the Company to enter into an agreement and plan of merger with ROVI Corporation (ROVI) (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, shareholders of TiVo will receive $10.70 in cash for each share of TiVo common stock. According to the Complaint, on August 2, 2016, Defendants issued materially incomplete disclosures in the Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. According to the Complaint, the Registration Statement is deficient and misleading in that it fails to provide adequate disclosure of all material information related to the Proposed Transaction.
If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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