An investigation on behalf of investors of SHFL entertainment Inc (NASDAQ:SHFL) in connection with the proposed takeover was announced and NASDAQ:SHFL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/23/2013 -- An investigation on behalf of investors in SHFL entertainment Inc (NASDAQ:SHFL) shares was announced concerning whether the offer by Bally Technologies, Inc to acquire SHFL entertainment Inc for $23.25 per NASDAQ:SHFL share and the takeover process are unfair to investors in NASDAQ:SHFL shares.
Investors who purchased shares of SHFL entertainment Inc (NASDAQ:SHFL) prior to July 16, 2013 , and currently hold any of those NASDAQ:SHFL shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of SHFL entertainment Inc breached their fiduciary duties owed to NASDAQ:SHFL investors in connection with the proposed acquisition.
On July 16, 2013, SHFL entertainment Inc (NASDAQ:SHFL) announced that it has entered into an agreement and plan of merger with Bally Technologies, Inc. (NYSE: BYI) pursuant to which Bally Technologies, Inc has agreed to acquire SHFL entertainment Inc at a per share price of $23.25 in cash for total consideration of approximately $1.3 billion.
However, the investigation by a law firm concerns whether the offer is too low for NASDAQ:SHFL stockholders. More specifically, the investigation focuses on whether the SHFL entertainment Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
SHFL entertainment Inc (NASDAQ:SHFL) reported that its Total Revenue rose from $179.34 million for the 12 months period that ended on Oct. 31, 2009, to $259.05 million for the 12 months period that ended on Oct. 31, 2012.
Shares of SHFL entertainment Inc (NASDAQ:SHFL) grew from $2.43 per share on March 2009 to as high as $17.87 in April 2012.
On July 22, 2013, NASDAQ:SHFL shares closed at $22.97 per share.
Those who are current investors in SHFL entertainment Inc (NASDAQ:SHFL), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com