On March 4, 2024, RealNetworks, Inc. was sued for violations of the federal securities laws in the United States District Court for the Western District of Washington on behalf of on behalf of the former minority shareholders of RealNetworks against RealNetworks and the former members of its Board of Directors (the “Board”),1 including Robert Glaser (“Glaser”), the Company’s Founder, Chairman, Chief Executive Officer and largest shareholder, for their violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (“Exchange Act”), 15 U.S.C. § 78n(e) and § 78t(a). Plaintiff’s claims arise in connection with the acquisition of the Company (the “Transaction”) by Glaser and Glaser’s investment entities Greater Heights LLC (“Parent”) and Greater Heights Acquisition LLC (“Merger Sub” and, together with Glaser and Parent, the “Glaser Parties”).
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