Faruqi & Faruqi, LLP is Investigating Archon Corporation (ARHN) for Potential Breaches of Fiduciary Duties
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Archon Corporation (“Archon” or the “Company”) (OTC US: ARHN) for potential breaches of fiduciary duties in connection with their conduct related to the proposed sale of the Company to Esplanade Capital LLC, the Company’s second largest outside shareholder, in an all-cash deal valued at approximately $101 million. The proposed transaction offers Archon’s shareholders $17.50 in cash for each share of Archon common stock they own.
The investigation focuses on whether Archon’s Board of Directors is acting in accordance with their fiduciary duties to Archon’s stockholders to conduct an adequate and fair sales process to sell the Company, whether the proposed transaction adequately values the Company’s shares, and whether Archon’s Board of Directors is properly negotiating a price increase for the proposed transaction.
If you own common stock in Archon 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.
Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.
* The submission of this form does not create an attorney-client relationship.
Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.