International Game Technology Merger Litigation (NYSE: IGT)
SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of
International Game Technology in Connection with the Sale of the Company -IGT
BALA CYNWYD, July 18, 2014 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of International Game Technology (“IGT” or the “Company”) (NYSE –IGT -News) relating to the proposed acquisition by Gtech.
Under the terms of the transaction, IGT shareholders will receive only 0.1819 of a share of the post-merger entity common stock and $13.69 in cash for each share of IGT stock they own. The transaction values IGT stock at only approximately $18.25 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of IGT for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue IGT and will result in a loss for many long term holders of IGT stock. For example, IGT stock traded at $21.01 per share on September 20, 2013 and traded at $19.61 on November 6, 2013.
If you own shares of IGT common stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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