STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Bally Technologies, Inc. (“Bally” or the “Company”) (NYSE: BYI) relating to the proposed buyout of the Company by Scientific Games Corporation (“Scientific Games”).
On August 1, 2014, Bally and Scientific Games announced the signing of a definitive merger agreement pursuant to which Scientific Games will acquire Bally in a transaction valued at approximately $5.1 billion.
Under the terms of the transaction, Bally shareholders are anticipated to receive $83.30 in cash for each share of Bally they own. According to Yahoo! Finance, at least one analyst has issued a price target for Bally stock at $90.00 per share. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether Scientific Games is underpaying for Bally shares.
If you currently own common stock of Bally and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.