BALA CYNWYD, Pa., Jan. 27, 2015 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Lakes Entertainment, Inc. ("Lakes" or "the Company") (Nasdaq-LACO-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Sartini Gaming, which owns Golden Gaming, LLC ("Golden").
Click here to learn more about the investigation http://brodsky-smith.com/881-laco-lakes-entertainment-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Lakes shareholders will receive stock in the new company only valued at $9.57 for each share of Lakes stock they own. The investigation concerns whether the Board of Lakes breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Golden is underpaying for Lakes. The transaction may undervalue Lakes and will result in a loss for many shareholders. For example, Lakes stock traded at $10.90 per share as recently as March 10, 2014.
If you own shares of Lakes and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/881-laco-lakes-entertainment-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Brodsky & Smith, LLC