NEW YORK, Aug. 20, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Empire
Resorts, Inc. ("Empire Resorts" or the "Company") (NasdaqGM: NYNY)
in connection with the proposed acquisition of the Company by
affiliates of Kien Huat Realty III Limited ("Kien Huat") and Genting Malaysia Berhad
("Genting Malaysia"). Under the terms of the agreement,
Empire Resorts shareholders will receive $9.74 per share of NYNY common stock in
cash.
If you are an Empire Resorts shareholder who
wishes to discuss the investigation or have any questions about
this notice and your rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212)
682-3025
(888)593-4771
stockinfo@weisslawllp.com
Or visit our
website
http://www.weisslawllp.com/empire-resorts-inc/
Or follow us on Twitter
@MarketsAlert
WeissLaw is investigating whether Empire Resorts' Board acted to
maximize shareholder value prior to entering into the
agreement. Notably, NYNY was trading at $14.00 as recently as May and the offer price is
approximately $7.22 less than the
Company's 52-week high of $16.96. Additionally, Kien Huat owns approximately 86% NYNY shares of
common stock.
WeissLaw is concerned whether the deal is really a "win-win" for
shareholders, as the Company's President and CEO Ryan Eller has put it, and
maximizes shareholder value. Specifically, WeissLaw is
investigating whether Empire Resorts' Board conducted a fair
process in agreeing to the proposed acquisition, whether the
proposed acquisition undervalues the Company, and whether all
material information related to the proposed acquisition is fully
and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
