SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Archon Corporation in Connection with a Merger Proposal from Esplanade Capital LLC
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky is investigating the Board of Directors of Archon Corporation ("Archon" or the "Company") (OTC: ARHN) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed sale of the Company to Esplanade Capital LLC.
Click here to learn how to join the action: http://zlk.9nl.com/archon-arhn/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the proposed transaction, Archon shareholders would receive $17.50 for each share of Archon stock they own. The transaction would have a total approximate value of $101 million. The investigation concerns, among other things, whether the proposed consideration to be paid to Archon shareholders is unfair, inadequate, and substantially below the fair or inherent value of Archon, and whether Esplanade Capital LLC is taking advantage of its position as second-largest outside shareholder in order to purchase the Company at an unfair price.
If you own common stock in Archon and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/archon-arhn/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Toll Free: 877-363-5972
KEYWORDS: United States North America New York
The article SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Archon Corporation in Connection with a Merger Proposal from Esplanade Capital LLC originally appeared on Fool.com.
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