SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Multimedia Games Holding Company, Inc. (NASDAQ: MGAM) breached their fiduciary duties in connection with the proposed sale of the Company to Global Cash Access Holdings, Inc.
Multimedia Games develops and distributes gaming technology. The Company creates and supplies comprehensive systems, content and electronic gaming units for Native American and commercial casinos.
On September 8, 2014, Multimedia Games announced it had signed a definitive agreement to be acquired by Global Cash Access. Under the terms of the agreement, Multimedia Games shareholders will receive $36.50 per share, for an aggregate purchase price of approximately $1.2 billion in cash.
Multimedia Games has over $125 million in cash. One Wall Street analyst has a target price greater than the proposed purchase price offered by Global Cash Access. Additionally, revenue estimates for 2014 and 2015 are estimated to increase 17.4% and 7.4% respectively. The 52 week high for Multimedia Games stock is $39.12.
If you are a shareholder of Multimedia Games and believe (1) the proposed buyout price is too low or (2) you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.