Former shareholders of Rentrak Corp. sued the company and its directors in Oregon state court over a now-completed merger with comScore Inc.
The investors had accused Rentrak’s board and two top executives of accepting a low-ball offer from the web traffic analysis firm comScore in order to preserve their own jobs, failing to disclose a better bid to shareholders and caving to pressure from a major shareholder to seal the deal. Rentrak was in the audience measurement business.
The shareholders and comScore Inc. have now reached a $19 million settlement. More than $15 million of the settlement funds would come from Rentrak or its insurers, while almost $4 million that would come from comScore or its insurers.
The plaintiffs are represented by Jason M. Leviton and Joel A. Fleming of Block & Leviton LLP, Peter B. Andrews, Craig J. Springer and David M. Sborz of Andrews & Springer LLC, and Timothy S. DeJong and Nadia H. Dahab of Stoll Berne.
The cases are In re Rentrak Corp. Shareholders Litigation, case number 15CV27429, and Hulme v. Livek et al., case number 17CV04984, both in Multnomah County Circuit Court.