Law Firm Brower Piven Announces Investigation of MTR Gaming Group, Inc. Proposed Merger
Law Firm Brower Piven Announces Investigation of MTR Gaming Group, Inc. Proposed Merger
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of MTR Gaming Group, Inc. ("MTR Gaming" or the "Company") (NasdaqGS: MNTG) and other violations of state law by the board of directors of MTR Gaming relating to the proposed merger of the Company with Eldorado Resorts, LLC. The firm's investigation seeks to determine, among other things, whether the board of directors of MTR Gaming breached their fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed merger, MTR Gaming's current shareholders will be offered a cash election option at $5.15 per share for up to 5.8 million shares and MTR Gaming's remaining common shares will be exchanged for shares in the combined new company. According to the press release, based on Eldorado's earnings as of June 30, 2013, the shares in the combined new company are valued at $5.15 per share. According to Yahoo! Finance, at least one analyst following MTR Gaming has set a target price of $7.00 per share.
If you currently own common stock of MTR Gaming and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
Brower Piven, A Professional Corporation
Stevenson, Maryland
Charles J. Piven, 410-415-6616
hoffman@browerpiven.com
KEYWORDS: United States North America Maryland
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The article Law Firm Brower Piven Announces Investigation of MTR Gaming Group, Inc. Proposed Merger originally appeared on Fool.com.
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