Caesars (CZR) Alert: Johnson Fistel Investigates Proposed Sale of Caesars Entertainment; Are Shareholders Getting a Fair Deal?
PRNewswire 27-Jun-2019 7:56 AM
SAN DIEGO, June 27, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Caesars Entertainment Corporation (NASDAQ:CZR) ("Caesars") breached their fiduciary duties in connection with the proposed sale of the Company to Eldorado Resorts, Inc. ("Eldorado").
On June 24, 2019, Caesars announced that it had signed a definitive merger agreement with Eldorado. Under the terms of the deal, Eldorado will acquire all of the outstanding shares of Caesars for a total value of $12.75 per share, consisting of $8.40 per share in cash consideration and 0.0899 shares of Eldorado common stock for each Caesars share of common stock. However, shareholders will be subject to the future price fluctuation of Eldorado's stock price.
The investigation concerns whether the Caesars board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Caesars shares of common stock.
If you are a shareholder of Caesars and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP
