WILMINGTON, Del., Oct. 16, 2013 /PRNewswire/ -- Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of MTR Gaming Group, Inc. ("MTR" or the "Company") (NASDAQ GS: MNTG) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by the parent company of Eldorado Resorts, LLC ("Eldorado").
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Under the terms of the agreement, public shareholders of MTR will be offered a cash election option at $5.15 per share for up to 5.8 million shares and the remaining shares will be exchanged for shares in the combined new company.
The investigation concerns whether MTR's board of directors failed to adequately shop the Company and obtain the best possible value for MTR's shareholders before entering into an agreement with Eldorado. According to Yahoo! Finance, at least one analyst has set a price target for MTR stock at $7.00 per share.
If you own the common stock of MTR and purchased your shares before September 9, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Gina Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/mtr-gaming-group-inc-mntg.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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