A law office recently noted that it filed a securities class action lawsuit against a gaming device manufacturer after its owners agreed to a merger with another company.
The Law Firm of Andrews and Springer, LLC, noted that the litigation was filed in the Nevada District Court for the District of Clark County against Bally Technologies, Inc. This included all shareholders who owned stock when the company's merger with Scientific Games Corporation was announced on Aug. 1, 2014.
This merger, if approved, would be worth approximately $3.3 billion. Shareholders would be set to earn $83.30 per share, which may be too low. A number of analysts valued the company's shares between $87 and $88. Due to the fact that shareholders may be set to lose value from the deal, the lawsuit was filed on Aug. 5, 2014.
It is possible for shareholders to become lead plaintiff in the case, as there has not yet been a certified class. The position is not mandatory to apply for, and it will still be an option for shareholders to remain absent class members.
Any shareholders who are looking for more information about the lawsuit, how it may affect them or the lead plaintiff position should speak with the law office. The best person to discuss these matters withis Craig Springer, and he can be reached by telephone or email. The law office's website also has further details.
Separate investigation underway
Another law office explained that it was looking into shareholders' claims that the merger may not be in their best interests. This also has the potential to become a class action lawsuit.
Rigrodsky and Long, P.A., explained that the merger between Bally Technologies and Scientific Games Corporation may include breaches of fiduciary duties on behalf of the leaders of Bally Technologies. By this law office's measurement, the value of the deal was $5.1 billion. The share payout valuation may be too low. One analyst from Yahoo! Finance noted that the stock price target should be around $90 per share.
Shareholders also have the option of discussing matters with the law office. The best people to talk to about these issues are Gina Serra and Seth Rigrodsky. They can be reached by telephone or email. Additionally, there is more information on the law office's website.