TiVo Inc. (NASDAQ:TIVO) Investor Investigation Over Possible Breaches Of Fiduciary Duties Announced

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July 29, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of TiVo Inc. (NASDAQ:TIVO) was announced over potential breaches of fiduciary duties by certain officers and directors at TiVo Inc.

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.