NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Florida Gaming Corporation (“Florida Gaming” or the “Company”) (OTC Markets: FGMG) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for the sale of the Company’s sole operating asset.
Specifically, in the Form 8-K and in the Additional Definitive Proxy Materials filed by the Company with the Securities and Exchange Commission on November 29, 2012, the Board of Directors recommends that Florida Gaming shareholders vote to approve the sale of the Company’s wholly owned subsidiary Florida Gaming Centers, Inc. (“Centers”) in a Stock Purchase Agreement to Silvermark LLC. Centers constitutes the Company’s only operating asset.
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