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RNWK.US
id: 1131

RealNetworks, Inc. (RNWK) Going Private at Unfairly Low Price Case

E.D. Washington
Court
2:24-cv-00297
Case number
28 Jul 2022
Class period Start
04 Mar 2024
Class period End
03 May 2024
Lead Plaintiff motion deadline
  • $RNWK stockholder filed a claim vs. RealNetworks (RNWK) for artificially depressing Company’s stock price
  • In July 2022, the Company announced Merger Agreement to sell the Company to the CEO, and closed the transaction at unfairly low price in December 2022.
The Merger was the culmination of a campaign by the CEO to drive down the Company’s stock price and internal forecasts, allowing him to acquire the entire Company on the cheap, seriously damaging shareholders.

The Merger is the product of an unfair, manipulated process that was timed and designed to depress the Company’s stock price to artificial, all-time low levels at which the Company’s stock had never traded in its over 25 years as a public company (other than briefly at the outset of the COVID-19 pandemic in March 2020).
Also, by take the Company private, the CEO could unfairly keep the Company’s future profits for himself and deprive the Company’s longtime public shareholders of their share of the Company’s future gains, again seriously damaging shareholders.

Considering all the representations, investors have reasons to suspect RealNetworks of intentionally manipulating Company’s stock price for personal gain, that led to investor losses.

The first affected investor already filed an initial claim vs. RealNetworks in Western District of Washington court.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
04 March 2024
Filing date
04 March 2024
Lead Plaintiff Deadline
03 May 2024
Collecting participants…

RealNetworks Inc

RealNetworks, Inc. provides digital media software and services in the United States, Europe, and internationally. Its Consumer Media segment offers RealPlayer media player, a software that enables...

    Ticker
    RNWK.US
    ISIN
    US75605L7082
    CIK
    1046327
    Sector
    Technology
    Industry
    Software & IT Services
    Country
    USA
    Address
    1501 First Avenue South, Seattle, WA, United States, 98134