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 -- December 26, 2012
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
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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
email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or
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
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
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