Law Office of Brodsky & Smith, LLC Announces Investigation of Ameristar Casinos, Inc.
BALA CYNWYD, Pa., Jan. 4, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Ameristar Casinos, Inc. ("Ameristar" or the "Company") (Nasdaq: ASCA) relating to the proposed acquisition by Pinnacle Entertainment, Inc. ("Pinnacle").
Under the terms of the transaction, Ameristar shareholders will receive only $26.50 in cash for each share of Ameristar stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Ameristar for not acting in the Company's shareholders' best interests in connection with the sale process to Pinnacle. The transaction may undervalue the Company as Ameristar expects to open its 500 million Lake Charles, La project in 2014. In addition, an analyst has set a price target for Ameristar stock at $29.00 per share.
If you own shares of Ameristar stock and wish to discuss the legal ramifications of the proposed transaction, 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 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com visiting http://brodsky-smith.com/524-asca-ameristar-casinos-inc.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
http://finance.boston.com/boston/news/read?GUID=23131590
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