SHAREHOLDER ALERT: WeissLaw LLP Investigates Caesars Entertainment Corp.
PRNewswire 24-Jun-2019 7:21 PM
NEW YORK, June 24, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Caesars Entertainment Corp. ("Caesars" or the "Company") (NASDAQ GS: CZR) in connection with the proposed merger of the Company with Eldorado Resorts, Inc. (NASDAQ GS: ERI). Under the terms of the merger agreement, Caesars shareholders will receive $8.40 in cash and 0.0899 shares of ERI stock (an equity value of $12.75) for every share of CZR stock owned.
If you own CZR shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our website
http://www.weisslawllp.com/caesars-entertainment-corp/
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WeissLaw is investigating whether Caesars' Board acted to maximize shareholder value prior to entering into the merger agreement. Under the terms of the merger, Eldorado Resorts shareholders will own 51 percent of the combined company, while Caesars shareholders will own 49 percent. Notably, Carl Icahn has increased his stake in Caesar to 17.75% this year, gaining control of three board seats, and has since called for a sale or merger of the Company. Icahn also pressured Caesars to open its books to Eldorado Resorts three months ago.
WeissLaw is investigating whether Caesars' Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed. In light of the above, WeissLaw is concerned whether a vote for the merger really is a vote for "immediate and ongoing value" for Caesars shareholders, as the Company's Chairman, Jim Hunt, has described the deal.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
