WILMINGTON, Del., Jan. 5, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC , a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed by another law firm on behalf of stockholders of Caesars Acquisition Co. (Nasdaq: CACQ ) ("Caesars Acquisition" or the "Company") seeking to challenge the Company's recently announced merger with Caesars Entertainment Corp. ("Caesars Entertainment").
If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com , or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc , Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On December 22, 2014, Caesars Acquisition and Caesars Entertainment announced the signing of a definitive merger agreement pursuant to which Caesars Entertainment will acquire Caesars Acquisition in a merger worth roughly $1 billion. As a result of the merger, Caesars Acquisition shareholders will receive only 0.664 shares of Caesars Entertainment Corp. for each share of Caesars Acquisition.
As several news outlets have already indicated , the merger is not in the best interests of shareholders since the deal is merely intended to place Caesars Entertainment in a better position to restructure its $18.4 billion debt load in preparation for bankruptcy. The consideration shareholders are expected to receive is significantly inadequate and does not currently reflect the Company's value. In fact, the consideration that shareholders are expected to receive equates to a negative 5% premium based on the closing prices of Caesars Acquisition and Caesars Entertainment on Friday, December 19, 2014, the last day of trading prior to the announcement of the proposed merger. Moreover, following the merger, shareholders are expected to be substantially diluted, owning only 38% of the combined company.
On December 30, 2014, a Caesars Acquisition shareholder represented by another law firm filed a class action complaint challenging the merger with Caesars Entertainment. The complaint was filed in the Nevada District Court for Clark County, Case No. A-14-711712.
If you own shares of Caesars Acquisition and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/CACQ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com , or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc , Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com . This notice may constitute Attorney Advertising.
Craig J. Springer, Esq. Call Toll Free: 1-800-423-6013
