Ameristar Casinos Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP
Investigate Sale to Pinnacle Entertainment
DALLAS -- December 21, 2012
Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers Taylor, LLP are
investigating the sale of Ameristar Casinos, Inc. (“Ameristar”) (NasdaqGS:
ASCA) to Pinnacle Entertainment, Inc. for shareholders. Under the terms of the
proposed deal with a total enterprise value of approximately $2.8 billion
including debt, Ameristar shareholders will only receive $26.50 for each share
of Ameristar stock owned, well below at least one analyst’s estimated value of
$33.00 per share.
If you are an affected investor, and you want to learn more about the lawsuit
or join the action, contact Zach Groover at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at firstname.lastname@example.org or Willie Briscoe at The
Briscoe Law Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Ameristar sale investigation centers on whether Ameristar’s shareholders
are receiving adequate compensation for their shares in the buyout, whether
the transaction undervalues Ameristar’s stock, and whether Ameristar’s board
attempted to obtain the highest share price for all shareholders prior to
agreeing to the deal. According to at least one analyst with Yahoo! Finance,
the true inherent value of the Ameristar shares could be as high as $33.00 per
share. Shareholder rights attorney Willie Briscoe noted that “due to the
proposed sale price, the size of the deal and other factors, we are concerned
that this transaction may undervalue Ameristar’s stock. As such, our lawsuit
will seek to obtain the highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.
Powers Taylor, LLP
Zach Groover, 877-728-9607
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
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