NEW YORK, Sept. 30, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of MTR Gaming Group, Inc. ("MTR Gaming" or the "Company") (Nasdaq:MNTG) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to the parent company of Eldorado Resorts, LLC. A complaint was filed in Delaware state court.
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Under the terms of the transaction, MTR shareholders will be offered a cash election option of $5.15 per share for up to 5.8 million shares; the remaining shares will be exchanged for shares in the post-merger company. The claims concern whether the MTR Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Eldorado Resorts, LLC is underpaying for MTR shares. In particular, at least one analyst set a price target of $7.00 per MTR share.
If you own MTR common stock 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 visit http://zlk.9nl.com/mtr-gaming-group/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut 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. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP