Shareholder Alert: Levi & Korsinsky, LLP Launches An Investigation Into The Possible Breaches Of Fiduciary Duty By The Board Of Dover Motorsports, Inc. In Connection With The Sale Of The Company To Dover Downs Gaming & Entertainment, Inc. - (NYSE: DVD)
Levi & Korsinsky is investigating the Board of Directors of Dover Motorsports, Inc. (“Motorsports” or the “Company”) (NYSE: DVD) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Dover Downs Gaming & Entertainment, Inc. (“Gaming”) (NYSE: DDE). Under the terms of the transaction, Motorsports stockholders will receive .501 shares of common stock of Gaming for each share of common stock or class A common stock of Motorsports. Click here to learn how to join the action: http://www.zlk.com/dovermotorsports-dvd.html, or call: 877-363-5972.
The investigation concerns whether the Motorsports Board of Directors breached their fiduciary duties to Motorsports stockholders by failing to adequately shop the Company before entering into this transaction and whether Southwest is underpaying for Motorsports shares, thus unlawfully harming Motorsports stockholders. The share exchange ratio was arrived at based on a financial analysis of both companies on a stand alone basis and as a combined entity and included consideration of the long and short term historical trading prices for each company’s common stock, among other factors. On the basis of such analysis, management of each company believes that there is no premium being paid by either company. The average exchange ratio for the fifteen consecutive trading days ending September 24, 2010 was .501.
If you own common stock in Motorsports and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/dovermotorsports-dvd.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.
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