Press release
Lawsuit filed for Investors who held shares of RealNetworks, Inc. (formerly NASDAQ: RNWK)
A lawsuit was filed on behalf of investors in RealNetworks, Inc. (formerly NASDAQ: RNWK) shares.
Investors who held shares of RealNetworks, Inc. (formerly NASDAQ: RNWK) and were cashed out on December 21, 2022, have certain options and for certain investors are short and strict deadlines running. Deadline: May 3, 2024. RealNetworks, Inc. (formerly NASDAQ: RNWK) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On July 28, 2022, the Company announced it had signed a definitive agreement to sell the Company to its CEO for $0.73 per share for each share of Company stock that the CEO did not already own. At the time, the Company had over 47 million shares of common stock issued and outstanding and the CEO owned approximately 39% of the outstanding shares of RealNetworks's stock. The Transaction closed on December 21, 2022.
According to the complaint the plaintiff alleges on behalf of investors who held RealNetworks, Inc. (formerly NASDAQ: RNWK) common shares and were cashed out on December 21, 2022, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that Defendants solicited stockholder approval of the Transaction by causing the filing of the materially misleading Proxy, which omitted material information that was required to be disclosed to RealNetworks's shareholders to enable them to cast an informed vote with respect to the Transaction.
Those who purchased shares of RealNetworks, Inc. (formerly NASDAQ: RNWK) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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