NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Multimedia Games Holding Company, Inc. (“Multimedia Games” or the “Company”) (Nasdaq:MGAM) for potential breaches of fiduciary duties in connection with the sale of the Company to Global Cash Access Holdings, Inc. (“Global Cash Access”) for approximately $1.2 billion in cash. The firm has filed a complaint against Multimedia Games.
The Company’s stockholders will receive $36.50 for each share of Multimedia Games common stock they own. Analysts from both Yahoo Finance and the Wall Street Journal have offered price targets higher than the deal’s. Moreover, Multimedia Games has had a 52-week high of $39.12.
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The investigation focuses on whether Multimedia Games’ Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Multimedia Games’ shareholders.
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If you own common stock in Multimedia Games and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/MGAM or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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