NEW YORK, Nov. 4, 2016 /PRNewswire/ -- Bernstein
Liebhard LLP is investigating whether the Board of Directors of
Caesars Acquisition Company ("Caesars Acquisition" or the
"Company") (NASDAQ: CACQ) breached their fiduciary duties to the
Company.
Caesars Acquisition and Caesars Entertainment Corporation
("Caesars Entertainment") entered into a merger
agreement (the "Merger Agreement") in December 2014. Under
the Merger Agreement, each outstanding share of Caesars Acquisition
class A common stock would be exchanged for 0.664 shares of Caesars
Entertainment common stock. Under the Merger Agreement,
Caesars Acquisition class A common stockholders would own
approximately 38% of the outstanding common stock of the merged
entity.
On July 11, 2016, Caesars
Acquisition announced that the Merger Agreement had been
amended. The amended agreement offers Caesars Entertainment
stock at an as of yet undetermined exchange ratio that would
provide Caesars Acquisition class A common stockholders only 27% of
the outstanding common stock of the merged entity. Thus, the
amended agreement offers Caesars Acquisition class A common
stockholders substantially (approximately 30%) less consideration
than that provided by the initial Merger Agreement.
If you are interested in discussing your rights as a Caesars
Acquisition class A common stockholder, and/or have information
relating to the matter, please contact Joseph R. Seidman,
Jr. at (877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3.5 billion for its clients.
The Firm has been named to the National Law Journal's "Plaintiffs'
Hot List" thirteen times.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2016 Bernstein Liebhard
LLP. The law firm responsible for this advertisement is Bernstein
Liebhard LLP, 10 East 40th Street, New
York, New York 10016, (212) 779-1414. The lawyer responsible
for this advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
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SOURCE Bernstein Liebhard LLP