Morgan & Morgan Announces Investigation of Bally Technologies, Inc. - BYI
NEW YORK, Aug. 6, 2014 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential claims against the Board of Directors of Bally Technologies, Inc. ("Bally" or the "Company") (NYSE: BYI) relating to the proposed acquisition by Scientific Games Corporation ("Scientific Games").
Under the terms of the transaction, Bally shareholders will receive only $83.30 in cash for each share of Bally stock they own. The transaction may undervalue Bally as an analyst has set a $90 per share target for Bally stock.
Morgan & Morgan's investigation concerns whether Bally's Board of Directors breached their fiduciary duties to Bally's shareholders.
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SOURCE Morgan & Morgan