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/.
Attorney Advertising. Past results do not guarantee a similar outcome.
Kelly C. Keenan
1500 Broadway, 16th
New York, NY 10036
Source: WeissLaw LLP
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