The Law Firm of Levi & Korsinsky, LLP Announces Investigation
into Possible Breaches of Fiduciary Duty by the Board of Ameristar
Casinos, Inc. in Connection with the Sale of the Company to
Pinnacle Entertainment, Inc.
NEW YORK, Dec. 24, 2012 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of Ameristar
Casinos, Inc. ("Ameristar" or the "Company") (NasdaqGS: ASCA) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Pinnacle
Entertainment, Inc. (NYSE: PNK).
Click here to learn how to join the action:
http://zlk.9nl.com/ameristar-casinos-asca, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Ameristar shareholders will
receive $26.50 for each share of
Ameristar stock they own. The transaction has total approximate
value of $869 million. The
investigation concerns whether the Ameristar Board of Directors
breached their fiduciary duties to stockholders by failing to
adequately shop the Company before entering into this transaction
and whether Pinnacle Entertainment, Inc. is underpaying for
Ameristar shares, thus unlawfully harming Ameristar stockholders.
In particular, at least one analyst set a price target for
Ameristar stock at $33.00 per
share.
If you own common stock in Ameristar and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or http://zlk.9nl.com/ameristar-casinos-asca.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, and Washington D.C. The firm
has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. The attorneys
at Levi & Korsinsky have been appointed by numerous courts
throughout the country to serve as lead counsel on behalf of
shareholders in major securities lawsuits and have successfully
recovered multimillion-dollar damages awards on behalf of
investors. For more information, please feel free to contact
any of the attorneys listed below. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
SOURCE Levi & Korsinsky, LLP