SHAREHOLDER ALERT:  Brodsky & Smith, LLC Announces an Investigation of Pinnacle Entertainment, Inc. – PNK

 

BALA CYNWYD, December 18, 2017 /Access Wire/ – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Pinnacle Entertainment, Inc. (“Pinnacle” or “the Company”) (Nasdaq- PNK-News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Penn National Gaming, Inc. (“Penn National”).

 

Under the terms of the transaction, Pinnacle shareholders will receive only $20.00 in cash and 0.42 of a share of Penn National stock for each share of Pinnacle stock they own. The transaction values Pinnacle stock at only approximately $32.47 per share. The investigation concerns whether the Board of  Pinnacle breached their fiduciary duties to shareholders and whether Penn National is underpaying for the Company. The transaction may undervalue the Company and would result in a loss for many Pinnacle shareholders. For example, shares of Pinnacle stock have traded at $38.50 per share and an analyst has set a price target for Pinnacle stock at $36.00 per share.

 

If you own shares of Pinnacle 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 510, Bala Cynwyd, PA  19004, 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 class 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 have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.