Faruqi & Faruqi, LLP Announces the Investigation of MTR Gaming Group, Inc. (MNTG) Over the Proposed Sale of the Company to Eldorado Resorts, LLC Parent
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of MTR Gaming Group, Inc. (“MTR” or the “Company”) (NasdaqGS: MNTG) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to the parent company of Eldorado Resorts. Under the terms of the transaction, MTR shareholders will be offered a cash election option of $5.15 per share for up to 5.8 million shares; the remaining shares will be exchanged for shares in the post-merger company. At least one analyst cited on Yahoo! Finance has provided a Price Target of $7.00 for MTR.
The investigation focuses on whether MTR’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of MTR’s shareholders.
If you own common stock in MTR and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.