Faruqi & Faruqi, LLP Is Seeking More Cash For The Shareholders Of Ameristar Casinos, Inc. (ASCA)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Ameristar Casinos, Inc. (“Ameristar” or the “Company”) (NASDAQ: ASCA) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Pinnacle Entertainment, Inc. (NYSE: PNK) in an all-cash deal valued at approximately $2.8 billion. Under the terms of the proposed transaction, Ameristar’s stockholders will receive $26.50 in cash for each share of Ameristar common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $29.00 for Ameristar.
The investigation focuses on whether Ameristar’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 Ameristar’s shareholders.
If you own common stock in Ameristar and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com 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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