NEW YORK--(BUSINESS WIRE)--WeissLaw LLP, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Ameristar Casinos Inc. (“Ameristar” or the “Company”) (NASDAQ: ASCA) arising from its agreement for Ameristar to be acquired by Pinnacle Entertainment Inc. (“Pinnacle”) in a transaction valued at approximately $900 million. Under the terms of the proposed transaction Ameristar shareholders will receive $26.50 in cash for each Ameristar share they own.
WeissLaw LLP is investigating whether Ameristar’s Board acted in the best interests of its public shareholders by actively shopping the Company to maximize shareholder value for Ameristar’s public shareholders, prior to entering into the proposed transaction with Pinnacle. Ameristar stock traded at $27.07 as recently as January 17, 2013. Notably, prior to the announcement of the deal, several analysts set the price target for the stock significantly above the price offered by Pinnacle under the merger agreement, with a high target of $31.00.
If you own Ameristar shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Kelly C. Keenan either by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
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 institutions and individuals and obtained important corporate governance in 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 issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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