An investigation on behalf of investors of Archon Corporation (PINK:ARHN) in connection with the proposed takeover was announced and PINK:ARHN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/17/2013 -- An investigation on behalf of investors in Archon Corporation (PINK:ARHN) shares was announced concerning whether the offer by Esplanade Capital LLC to acquire Archon Corporation for $17.50 per PINK:ARHN share and the takeover process are unfair to investors in Archon Corporation shares.
Investors who purchased shares of Archon Corporation (PINK:ARHN) prior to April 15, 2013, and currently hold any of those PINK:ARHN 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 Archon Corporation breach their fiduciary duties owed to PINK:ARHN investors in connection with the proposed acquisition.
On April 15, 2013, Esplanade Capital LLC has made an offer to acquire all outstanding shares of Archon Corporation at a price of $17.50 per share in a negotiated transaction, subject to confirmatory due diligence.
However, the investigation a law firm concerns whether the offer is too low for PINK:ARHN stockholders. More specifically, the investigation focuses on whether the Archon Board of Directors undertakes an adequate sales process, adequately shops the company before entering into the transaction, maximizes shareholder value by negotiating the best price, and acts in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Archon Corporation (PINK:ARHN), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com