|By PR Newswire||
|August 1, 2014 10:05 PM EDT||
BALA CYNWYD, Pa., Aug 1, 2014 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Bally Technologies, Inc. ("Bally" or the "Company") (NYSE: BYI) relating to the proposed acquisition by Scientific Games.
Click here to learn more about the investigation http://brodsky-smith.com/802-byi-bally-technologies-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Bally shareholders will receive only $83.50 in cash for each share of Bally stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Bally for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue Bally as an analyst has set a $90 per share target for Bally stock.
The transaction will prevent Bally's shareholders from reaping the benefit of the merger of these two companies. The combined companies have revenue of approximately $3 billion for the one-year period ending March 31, 2014. In addition, Scientific Games has acknowledged that it expects the transaction to immediately benefit the Company's per share earnings, cash flow, and help reduce the Company's leverage over the next three to four years.
If you own shares of Bally 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 [email protected], by visiting http://brodsky-smith.com/802-byi-bally-technologies-inc.html, 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.
SOURCE Brodsky & Smith, LLC
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