LAKES ENTERTAINMENT INC. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Lakes Entertainment, Inc. (LACO) Over the Proposed Sale of the Company to Golden Gaming, LLC
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 Lakes Entertainment, Inc. (“Lakes Entertainment” or the “Company”) (Nasdaq: LACO) for potential breaches of fiduciary duties in connection with the sale of the Company to Golden Gaming, LLC (“Golden Gaming”) for approximately $100 million. Under the terms of the agreement, Lakes Entertainment shareholders will receive stock in the new company valued at $9.57 for each share of Lakes Entertainment common stock.
The investigation focuses on whether Lakes Entertainment’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Lakes Entertainment’s shareholders.
If you own common stock in Lakes Entertainment 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.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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