An investigation for investors in NASDAQ:CZR shares over potential securities laws violations by Caesars Entertainment was announced and NASDAQ:CZR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/15/2014 -- An investigation for investors in NASDAQ:CZR shares concerning potential violations of Federal Securities Laws violations by Caesars Entertainment in connection certain financial statements regarding its majority owned subsidiary, Caesars Entertainment Operating Company, Inc was announced.
Investors who purchased shares of Caesars Entertainment Corp (NASDAQ:CZR) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether a series of statements by Caesars Entertainment Corp regarding its majority owned subsidiary, Caesars Entertainment Operating Company, Inc were materially false and misleading at the time they were made.
Shares of Caesars Entertainment Corp (NASDAQ:CZR) grew from $4.82 per share in November 2012 to as high as $25.96 per share in February 2014.
On March 11, 2014, Caesars Entertainment Corp announced its fourth quarter and full-year 2013 Results. Caesars Entertainment Corp (NASDAQ:CZR) reported that its annual Total Revenue declined from over $8.58 billion in 2012 to over $8.55 billion in 2013 and that its respective Net Loss increased from over $1.5 billion to over $2.94 billion. On May 7, 2014, Caesars Entertainment Corp reported its financial results for the first quarter 2014. Caesars Entertainment Corp. Caesars Entertainment Corp announced that its first quarter Revenue declined from over $2.14 billion in 2013 to over $2.1 billion in 2014 and that its first quarter Net Loss increased from $217.6 million in 2013 to $389.4 million in 2014. On August 11, 2014, Caesars Entertainment Corp reported its financial results for the second quarter 2014. Caesars Entertainment Corp reported that its second quarter Revenue increased from over $2.12 billion in 2013 to over $2.18 billion in 2014 and that its second quarter Net Loss increased from $212.2 million in 2013 to $466.4 million in 2014. On November 10, 2014, Caesars Entertainment Corp announced its financial results for the third quarter 2014. Caesars Entertainment Corp reported that its third quarter Revenue rose from over $2.08 billion in 2013 to over $2.21 billion in 2014 and that its third quarter Net Loss increased from $761.4 million in 2013 to $908.1 million in 2014.
According to the investigation Caesars Entertainment Corp indicated that its majority owned subsidiary, Caesars Entertainment Operating Company, Inc., currently had sufficient liquidity, and would not require additional sources of cash to fund its operations and obligations until the fourth quarter of 2015.
Then on December 12, 2014, it was reported that owners of Caesars Entertainment's bank loans, along with one bondholder, exited confidential negotiations and released 550 pages detailing Caesars Entertainment's plans to put the subsidiary into a Delaware bankruptcy court by January 15, 2015.
Shares of Caesars Entertainment declined to $12.94 per share during December 12, 2014.
Those who purchased shares of Caesars Entertainment Corp (NASDAQ:CZR) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com